Dubai-Mubasher: The rights issue of Ajman Bank will be tradable on Dubai bourse from 22 May to 5 June 2016, according to a bourse statement.
The opening price of the rights issue stands at 39 fils, based on the company’s adjusted share price on the market after deducting the issuing price.
The rights issue will be floated without price limits on the first day only, the statement noted, adding that the price movement will be in line with the bourse’s fluctuation range of 15% up and 10% down from day two until the end of the trading period.
Subscription to the bank’s new shares will start from 30 May to 12 June to raise the capital to AED 1.62 billion through the issuance of 500 million shares with an issue price of AED 1.35.
