Dubai – Mubasher: Emirates Islamic Bank’s (EIB) board decided to increase the capital from AED 3.93 billion to AED 5.43 billion, according to a bourse statement
The capital increase will be through issuing rights issue worth AED 1.5 billion, with a nominal value of AED 1 per share and an issue price of AED 1 per new share.
The board agreed to hold the extraordinary general meeting (EGM) at a date and time to be set later.
The board is authorised to implement the rights issue and the capital hike, as well as issuing the new shares within twelve months from the date of the general meeting.
The company’s articles of association will be amended once the capital increase is completed.
