Dubai – Mubasher: The subscription period for Ajman Bank’s capital increase, which commenced on 17 October, is set to end on Wednesday, 31 October.

The Dubai Financial Market (DFM) announced previously that Ajman Bank’s right issue shares would be traded between 10 and 24 October.

Ajman Bank’s right issue involved 419.67 million shares, which would boost the bank’s capital to AED 2.1 billion.

A rights issue gives a company’s or bank’s shareholders priority to subscribe in the entity’s capital increase.

“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 DFM said in its previous statement.

Ajman Bank last reported a 43% profit jump to AED 79 million in the first six months of 2018 from AED 55.3 million in the year-ago period.