Abu Dhabi Commercial Bank (ADCB), which trades on the Abu Dhabi Securities Exchange (ADX), said funded commitments for its rights issue more than doubled. Secured commitments reached over AED12 billion ($3.3 billion) from UAE, regional and international investors for its AED6.1 billion rights issue, the lender said in a statement to the ADX. The rights […]Abu Dhabi Commercial Bank (ADCB), which trades on the Abu Dhabi Securities Exchange (ADX), said funded commitments for its rights issue more than doubled. Secured commitments reached over AED12 billion ($3.3 billion) from UAE, regional and international investors for its AED6.1 billion rights issue, the lender said in a statement to the ADX. The rights […]

ADCB rights issue draws $3.3bn funding commitment

2025/12/10 21:21

Abu Dhabi Commercial Bank (ADCB), which trades on the Abu Dhabi Securities Exchange (ADX), said funded commitments for its rights issue more than doubled.

Secured commitments reached over AED12 billion ($3.3 billion) from UAE, regional and international investors for its AED6.1 billion rights issue, the lender said in a statement to the ADX.

The rights subscription closed on December 4.

Mubadala Investment Company, the majority shareholder in ADCB, subscribed in full to its proportional entitlement of new shares, providing anchor support. The subscription amount was not disclosed.

The remaining shares were oversubscribed by more than three times, reflecting strong investor confidence in ADCB’s strategy and growth trajectory, the statement said.

The bank said the transaction was the “largest-ever rights issue by a company with a primary listing on ADX”.

“We now move into an ambitious phase of technology-driven growth,” group CEO Ala’a Eraiqat said.

The net proceeds will be used to drive organic growth and strengthen the capital base ahead of upcoming regulatory changes, the statement said. No details on the regulatory changes were given.

Further reading:

  • Despite ‘greenlash’, UAE banks will stick to net zero commitment
  • ADCB profit rises as non-interest income up 36%
  • ADCB records promising early year results

Trading in the new shares is expected to begin on the ADX by December 26, the bank said on its website.

In October ADCB said its bottom line rose to AED3.1 billion in the July-September period, compared to AED2.6 billion a year earlier.

Assets grew by 17 percent year on year to AED744 billion by the end of September, while deposits rose 19 percent to AED482 billion.

The lender’s shares closed at AED14.60 on Wednesday, down 1.35 percent on the previous day, but up nearly 48 percent in the last year.

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