ADIB shareholders approve AED1.75bn rights issue for Vision 2035
In short
Shareholders of Abu Dhabi Islamic Bank approved a rights issue of about AED1.75 billion ($476 million) at a General Assembly on Tuesday. The issue comprises 106,383,000 new shares at AED16.45 each, a 28.8 per cent discount to the August 24 closing price, and lifts the bank's paid-up capital to AED3,738,383,000. ADIB said the proceeds will support growth under its Vision 2035 strategy, with the timetable still subject to regulatory approvals.
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Shareholders of Abu Dhabi Islamic Bank approved a rights issue expected to raise approximately AED1.75 billion in gross proceeds, the bank said. Gulf News put the figure at about $476 million and Forbes Middle East at $476.5 million. The resolution was passed by the requisite majority at a General Assembly meeting held on Tuesday. [ 1 , 2 , 4 ]
The issue comprises 106,383,000 new shares at an issue price of AED16.45 each, made up of a nominal value of AED1 and a share premium of AED15.45. That price is a discount of about 28.8 per cent to ADIB's closing share price on the Abu Dhabi Securities Exchange on 24 August 2026, which Forbes Middle East reported as AED23.10 ($6.29). Eligible shareholders are entitled to subscribe for approximately one new share for every 34.14 existing shares held, in accordance with the final subscription terms. On completion, ADIB's issued and paid-up share capital will rise from AED3,632,000,000 to AED3,738,383,000. [ 1 , 2 , 4 ]
ADIB said the capital raise will strengthen its capital base and support the next phase of growth under its Vision 2035 strategy, allowing it to pursue growth while maintaining capital strength. Chairman Jawaan Awaidah Al Khaili said shareholders' approval “reflects their confidence in ADIB's strategy, the strength of its franchise and its ability to deliver sustainable growth and attractive returns,” adding that the raise “will further strengthen the Bank's financial foundation.” Group Chief Executive Officer Mohamed Abdelbary said the bank's model generates high returns and that the additional equity “will provide greater capacity to fund this growth while maintaining capital strength.” [ 1 , 2 ]
Gulf News reported that the bank's assets stood at AED304 billion ($82.8 billion) at the end of the first half of 2026, after 24 per cent growth in 2025, and that return on equity was 28 per cent in 2024, 29 per cent in 2025 and 28 per cent in the first half of this year. WAM quoted Abdelbary saying the bank had surpassed AED300 billion in total assets and saw opportunities to expand its core businesses. [ 1 , 2 ]
The bank will now set out the record date, rights trading period and subscription period. According to Gulf News and WAM, the timetable remains subject to regulatory and supervisory approvals. Forbes Middle East reported that shareholders granted the board full authority to implement the increase, set the terms and subscription period, and accept the amount subscribed without offering any remaining shares to the public. Gulf News also reported that major shareholders had already committed to take up their entitlements when the board approved the plan on 25 August. [ 1 , 2 , 4 ]
Why it matters
The approval adds roughly AED106 million to ADIB's paid-up capital base on top of its existing AED3.632 billion, giving the bank more capacity to fund lending growth. Because the offer is priced below the August market price and was endorsed by shareholders, it also indicates investor support for the bank's Vision 2035 plan. The remaining timetable depends on regulatory and supervisory approvals, so the capital is not yet in place.
Key facts
- ADIB shareholders approved a rights issue expected to raise approximately AED1.75 billion in gross proceeds, or $476 million according to Gulf News and $476.5 million according to Forbes Middle East. [ 1 , 2 , 4 ]
- The issue comprises 106,383,000 new shares at an issue price of AED16.45 per share, with a nominal value of AED1 and a premium of AED15.45. [ 1 , 2 , 4 ]
- The issue price represents a discount of about 28.8 per cent to ADIB's closing share price on 24 August 2026, which Forbes Middle East put at AED23.10 ($6.29). [ 1 , 2 , 4 ]
- The bank's issued and paid-up share capital will rise from AED3,632,000,000 to AED3,738,383,000 on completion. [ 1 , 2 ]
- Eligible shareholders are entitled to subscribe for about one new share for every 34.14 existing shares held. [ 2 , 4 ]
- ADIB said the capital raise will strengthen its capital base and support growth under its Vision 2035 strategy. [ 1 , 2 , 4 ]
- ADIB's assets stood at AED304 billion ($82.8 billion) at the end of the first half of 2026, after 24 per cent growth in 2025, according to Gulf News; return on equity was 28 per cent in 2024, 29 per cent in 2025 and 28 per cent in the first half of this year. [ 1 ]
Confirmed by several sources
- Shareholders approved the rights issue at the General Assembly meeting held on Tuesday. [ 1 , 2 , 4 ]
- The issue comprises 106,383,000 new shares priced at AED16.45 each, a 28.8 per cent discount to the 24 August 2026 closing price. [ 1 , 2 , 4 ]
- ADIB said the proceeds will support the next phase of growth under Vision 2035 while maintaining capital strength. [ 1 , 2 , 4 ]
Still unclear
- The record date, rights trading period and subscription period have not been set. Gulf News reports the bank will now set out these dates, and all three documents say the timetable remains subject to regulatory and supervisory approvals.
- Whether major shareholders have already committed to take up their entitlements. Only Gulf News states that major shareholders have committed to take up their entitlements, disclosed when the board approved the plan on 25 August; the other documents do not mention it.
- The gross proceeds figure in dollar terms. Gulf News and WAM indicate about $476 million while Forbes Middle East gives $476.5 million; the difference reflects currency conversion of the same AED1.75 billion target.
What local media are saying
Timeline, local time
- ADIB's closing share price on the Abu Dhabi Securities Exchange, used to price the discount, stood at AED23.10 ($6.29). [ 1 , 2 , 4 ]
- The board approved the rights issue plan and the bank disclosed that major shareholders had committed to take up their entitlements, according to Gulf News. [ 1 ]
- Shareholders approved the rights issue by the requisite majority at the General Assembly meeting. [ 1 , 2 , 4 ]
- Gulf News reported the shareholder approval and the terms of the issue. [ 1 ]
- WAM published the official report of the approval. [ 2 ]
- Forbes Middle East reported the approval and additional share capital details. [ 4 ]