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Arab Finance: Abu Dhabi Islamic Bank Egypt (ADIB) announced the completion of the first phase of subscription to its capital increase at a coverage ratio of 98.5446%, representing around 295.633 million shares, as per a disclosure.
The remaining 4.366 million unsubscribed shares will proceed to a second subscription phase, and any excess amounts will be refunded within one week of the subscription window closing.
On September 25th, the bank's ordinary general meeting (OGM) approved raising the issued and paid-up capital from EGP 12 billion to EGP 15 billion through the issuance of 300 million shares at a nominal value of EGP 10, with an issuance fee of EGP 0.5 per share.
