Dubai – Mubasher: Ajman Bank said that the subscription period of increasing capital through right issue shares ended on Wednesday, 7 November.

Last week, the UAE-based lender listed on the Dubai Financial Market (DFM) announced the extension of the subscription in its rights issue as part of its capital hike for five working days.

Ajman Bank issued 419.67 million shares at an issuance price of AED 1 per share in order to raise its capital to AED 2.1 billion from AED 1.68 billion.

It is worth noting that the bank posted a 27% year-on-year increase in profits to AED 119.8 million for the first nine months of 2018.

By the end of Wednesday’s session, Ajman Bank’s stock rose 1.52% at AED 0.93.