The Clap
The 2nd subscription phase of ADIB’s (ADIB) capital increase was oversubscribed by 344%.
The Deets
ADIB clarified that investors subscribed to 28.01 million shares. Every subscriber will be issued 0.29 shares following the finalization of the 2nd subscription phase.
The bank further clarified that the additional funds that led to the oversubscription will be returned to investors within one week from the close of the subscription.
Background
ADIB had finalized the first subscription stage after covering 95.9% of the available subscriptions.
2nd stage of ADIB subscription covered by 344% ✅
