Dubai – Mubasher: Dubai Islamic Bank (DIB) on Sunday said that its rights issue for a capital hike were over 3 times oversubscribed with AED 9 billion, according to a statement.

Following the rights issue, DIB has successfully increased its capital to AED 4.94 billion from AED 3.95 billion through the issuance of 988.44 million shares, the bank added in a press released.

The Dubai-listed bank’s rights issue began on Monday, 7 June.

DIB’s stock ended Sunday in the red, dropping 3.25% to AED 1.49 after 52.85 million shares were traded at a turnover of AED 10.59 million.