The Clap
Today’s the first day of trading Abu Dhabi Islamic Bank’s (ADIB) rights, which resulted from its capital increase. Here’s what you need to know:
Backstory
ADIB is increasing its capital from EGP 2 billion to EGP 4 billion by issuing rights to which existing shareholders can subscribe to.
The deets
ADIB is issuing 200 million subscription rights at a par value of EGP 10/right and issuance costs of EGP 0.0523.
What you need to know
As a shareholder, you have the choice between selling the rights offered to you before the end of trading date (July 18, 2022), or subscribing to the capital increase and paying 10.0523 for each right. The last day to subscribe is July 21, 2022.
Not doing any of the above by their deadlines will result in the loss of your investment, and you will not benefit from the subscription rights.
