Latest news with #UnitedArabBank
Al Bawaba
6 days ago
- Business
- Al Bawaba
United Arab Bank PJSC launches strategic Rights Issue to raise up to AED 1.03 billion
United Arab Bank PJSC ("UAB"), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Khaleej Times
6 days ago
- Business
- Khaleej Times
United Arab Bank launches strategic rights issue to raise up to Dh1.03 billion
United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to Dh1,031,275, from Dh2,062,550,649 up to Dh3,093,825,974 by way of the rights issue offered to the existing shareholders of the bank. Further, UAB has published an invitation to its shareholders to subscribe for new shares. Frequently asked questions relating to the rights issue will be made available on UAB's website ( on or around today's date. The new shares will be issued at an issue price of Dh1 per new share. The terms and launch of the rights issue were approved by the UAB's general assembly meeting held on March 6, 2025, following the approval of the board of directors of the bank held on February 4, 2025. The necessary regulatory approvals have been obtained for this transaction. UAB intends to use the net proceeds raised from the rights issue to strengthen its capital base and to support future growth of the business of the bank. The holders of rights, which includes shareholders of UAB and any persons who purchased rights during the rights trading period, will be entitled to exercise their rights to subscribe for new shares at the issue price commencing on July 4, 2025 and ending on July 17, 2025. The new shares will be allocated to eligible persons on July 24, 2025. Refunds will be given to eligible persons, who did not receive the number of New Shares that they subscribed for, on or around July 24, 2025. Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank said the rights issue represents a significant milestone in the bank's journey towards its next phase of growth. 'It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as lead manager and bookrunner in respect of the rights issue and Al Tamimi and Company have been appointed as legal adviser. Expected Timetable of Principal Events > Date of publication of the Invitation|: 3 June > Eligibility Date of Rights (record date)*: 19 June > First day of trading the Rights on the ADX: 27 June > Last day of trading the Rights on the ADX: 10 July > Subscription Opening Date: 4 July > Subscription Closing Date: 17 July > Date of allocation: 24 July > Refund date: On or around 24 July > Commencement of dealings in the new shares: On or around 30 July * In order to receive rights on the eligibility date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the eligibility date, i.e. on or before June 17, 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis).
Mid East Info
7 days ago
- Business
- Mid East Info
United Arab Bank PJSC launches strategic Rights Issue to raise up to AED 1.03 billion - Middle East Business News and Information
United Arab Emirates: United Arab Bank PJSC ('UAB'), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the 'Invitation') to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the 'Issue Price'). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the 'Eligible Persons'), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July 2025. Commenting on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: 'The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. Expected Timetable of Principal Events Event Date (2025) Date of publication of the Invitation 3 June Eligibility Date of Rights (record date)* 19 June First day of trading the Rights on the ADX 27 June Last day of trading the Rights on the ADX 10 July Subscription Opening Date 4 July Subscription Closing Date 17 July Date of allocation 24 July Refund date On or around 24 July Commencement of Dealings in the New Shares On or around 30 July * In order to receive Rights on the Eligibility Date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the Eligibility Date, i.e. on or before 17 June 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis).
Zawya
7 days ago
- Business
- Zawya
United Arab Bank PJSC launches strategic rights issue to raise up to AED 1.03bln
United Arab Emirates: United Arab Bank PJSC ("UAB"), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July 2025. Commenting on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. Expected Timetable of Principal Events * In order to receive Rights on the Eligibility Date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the Eligibility Date, i.e. on or before 17 June 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis). About United Arab Bank P.J.S.C. United Arab Bank P.J.S.C. (UAB) was established in 1975, in the Emirate of Sharjah as a joint venture between key UAE and international investors, and its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). UAB offers a wide range of Wholesale Banking, Retail Banking, Treasury & Financial Markets, as well as Shari'ah compliant products, services and flexible solutions, to meet the ever-evolving needs of our clients and the markets. Today, UAB is recognized as one of the few home-grown banks in the UAE, striving to enhance the lives of people by humanizing banking through impeccable service and tailored financial support. UAB is rated investment grade, both, by Moody's (Baa3/P-3/Positive) and Fitch (BBB+/F2/Stable). For further information please visit or contact: Sirine El Merhebi Marketing & Communications Department Direct Line: +971 6 507 5415 Mobile: +971 5 5607 2929 Email:
Gulf Today
03-06-2025
- Business
- Gulf Today
United Arab Bank launches strategic Rights Issue to raise up to Dhs 1.03 billion
United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to Dhs1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from Dhs2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to Dhs3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of Dhs1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6th March 2025, following the approval of the Board of Directors of the Bank held on 4th February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4th July 2025 and ending on 17th July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24th July 2025. Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank, said, "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. WAM
