Dubai – Mubasher: The Dubai Financial Market (DFM) on Monday announced that trading on Ajman Bank’s right issue shares will start on Wednesday, 10 October, and continue for two weeks until Wednesday, 24 October.

Trading on the shares will enable shareholders who decide not to take a part in the rights issue to sell all or part of their rights to other traders, the DFM said in a statement.

“The rights are distributed amongst shareholders in proportion to the number of shares they own and shall be recorded in their accounts with brokerage or custody firms if the original shares were recorded in the shareholders' accounts with them,” the statement added.

Eligibility for subscription in the capital hike will be available for owners of right issue shares at the end of the clearing and settlement cycle for the trades of such rights.

After the transaction, Ajman Bank’s capital will increase to AED 2.1 billion via issuing of 419.7 million shares.