Abu Dhabi Islamic Bank's board approves Dh1.75 billion rights issue

Abu Dhabi Islamic Bank’s (Adib) board of directors has approved a proposal to raise Dh1.75 billion through a rights issue, subject to shareholder and regulatory approvals. The proposed rights issue will comprise 106,383,000 new ordinary shares priced at Dh16.45 per share, a discount of approximately 28.8 per cent to Adib’s closing share price of Dh23.10 on the Abu Dhabi Securities Exchange on…