ADIB Shareholders Approve $476.5M Rights Issue to Fund Vision 2035 Growth
The Abu Dhabi lender will offer up to 106.38 million new shares at a 28.8% discount, a move the board ties to its next phase of expansion.
Tariq Benali Tariq Benali covers business and corporate news across the UAE and MENA for Anecdoted, tracking the deals, leadership moves and regulatory shifts behind the region's companies. tariq@anecdoted.com
Abu Dhabi Islamic Bank will offer as many as 106,383,000 new shares to its existing holders after shareholders approved the plan, according to a filing the lender made with the Abu Dhabi Securities Exchange on Wednesday.
Each share is priced at AED 16.45 ($4.48). Taken up in full, the offer brings in AED 1.75 billion ($476.5 million) and lifts ADIB's share capital from AED 3.632 billion ($989 million) to AED 3.7 billion ($1.02 billion), an increase of as much as 2.9%.
New shares carry a nominal value of AED 1 ($0.27) and a premium of AED 15.45 ($4.21). They go to all existing shareholders in proportion to their holdings.
The board's August proposal set the entitlement at roughly one new share for every 34.14 already held, subject to final terms and rounding, and pegged the price at a 28.8% discount to the close of AED 23.10 ($6.29) on August 24, 2026.
Shareholders handed the board full authority to carry out the increase, fix the terms and subscription window, and take up whatever is subscribed without selling leftover shares to the public. ADIB will settle the final size of the increase once the subscription period closes and regulators sign off.
Where the money goes
The board approved the proposal on August 25, 2026, framing it as backing for the next phase of growth under Vision 2035. Major shareholders have confirmed they will subscribe for their entitlements, the bank said. Emirates International Investment Company holds the largest stake, at 39.4%.
ADIB's total assets passed AED 300 billion for the first time, reaching AED 304 billion ($82.8 billion) at the end of June 2026, after 24% asset growth during 2025. Return on equity stood at 28% in the first half. Net profit after tax for the six months rose 8% to AED 3.8 billion ($1 billion), and profit before tax climbed 9% to AED 4.3 billion ($1.2 billion).
Reaching more than AED 300 billion in total assets for the first time is an important milestone for ADIB and reflects the significant progress we have made in growing our business and customer franchise.
Group CEO Mohamed Abdelbary added that Vision 2035 provides “a clear roadmap to build on this momentum and accelerate ADIB's next phase of growth.”
Regulatory approval pending
The issue still needs approvals including from the Central Bank of the UAE, and the bank said further details will be announced in due course.
ADIB's last capital increase came in 2018, when it sold 464 million new shares at AED 2.16 ($0.59) each, moving its capital from AED 3.168 billion ($862.6 million) to AED 3.632 billion ($989 million). That figure has held since.
The bank ranked 22nd on a 2026 list of the region's 100 most valuable companies, with a market value of $24.1 billion as of January 31, 2026. Abdelbary also appeared on a 2026 ranking of the region's top 100 chief executives, at No. 70.
