Invitation to the shareholders to subscribe for New shares in a Rights Issue | premargin
Invitation to the shareholders to subscribe for New shares in a Rights Issue
·ADX·General Disclosure | Announcements·March 30, 2026·View on exchange
AI Summary
Sharjah Islamic Bank (SIB) is launching a rights issue to raise gross proceeds of up to AED 2.59 billion by issuing 1,078,559,212 new ordinary shares at an issue price of AED 2.40 per share.
Eligible shareholders will receive one right for every three shares held as of the record date on April 17, 2026; the issue price represents a 37% discount to the closing price on February 13, 2026.
Rights will be tradable on the Abu Dhabi Securities Exchange (ADX) from April 20 to May 1, 2026, followed by a subscription period for new shares from April 27 to May 8, 2026.
The Government of Sharjah, the bank's largest shareholder, has committed to subscribing in full for its proportional entitlement of the new shares.
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