Dubai-Mubasher: Ajman Bank will open the subscription for its rights issue from Monday till 12 June, according to a bourse statement.
The bank aims to raise its capital from AED 1.12 billion to AED 1.62 billion through the issuance of 500 million shares with an issue price of AED 1.35 per share, reflecting a nominal value of AED 1 per share and a share premium of 35 fils per share.
The capital raise will be used to strengthen the bank’s capital base, as well as meeting the business needs of corporate and retail customers, and working capital to generate cash flows.
