DFM ---ADX ---
1mAI Chip Fears Weigh on Tech Stocks as Dow Hits Record HighsBusiness
3mUAE travellers save up to Dh3,500 per trip using AI for holiday planningBusiness
3mWhy Pre-Launch iPhone Prices are Climbing in the UAEBusinessUAE
15hUAE Emerges as a Premier Global Destination for Student InternshipsBusiness
23hDP World Boosts Indian Coastal Shipping with New VesselBusiness
23hUAE luxury interiors shift toward bespoke, long-term investmentsBusiness
23hUAE Economic Growth Poised for Third-Quarter Surge in 2026Business
23hUAE Commercial Real Estate Remains Resilient Amid Global ShiftsBusiness
23hUAE EV Shortage Intensifies as Shipping Delays Lead to Five-Month WaitlistsBusiness
23hSharjah Solidifies Status as Global Luxury Hub Following Record-Breaking Jewellery ExhibitionBusiness
23hDubai’s Luxury Real Estate Surge Sparks High-End Glazing InnovationBusiness
23hIndia Plans to Expand Stock Lending to Boost Cash MarketBusiness
23hAdnoc Distribution Enters South African Market with $1 Billion Shell AcquisitionBusiness
23hAdnoc Secures Major 15-Year LNG Export Deal with Japan’s InpexBusiness
1dSharjah Airport Gears Up for Summer Travel SurgeBusiness
1dADCB Confirms Services Restored Following Technical DisruptionBusinessUAE
1dApple’s Upcoming Foldable iPhone Likely to Face Severe Supply ConstraintsBusiness
1dUAE Job Market Faces Hiring Slowdown Amid Regional InstabilityBusiness
1dUAE Businesses Pivot to Specialist Tech Partners for Digital SuccessBusiness
1dEasyJet Nears $7.3 Billion Buyout Amid Regulatory ConcernsBusiness
1dUAE Ranked Among Top Destinations for Muslim TravelersBusiness
1dInnovation City and IOPn Launch Middle East’s First Sovereign AI Data CenterBusiness
1dAdnoc Launches Unified LNG Trading Hub to Accelerate GrowthBusiness
1dDGHR Unveils 'Human Resources Law Elite' to Elevate Institutional GovernanceBusiness
1dArada Targets $5 Billion Expansion with New Investment PlatformBusiness

Sharjah Islamic Bank Sees Massive Success in Dh2.59 Billion Rights Issue

Tue, May 12, 2026(56d ago)Business

Sharjah Islamic Bank (SIB) has officially closed its Dh2.59 billion rights issue, marking a significant milestone as the offering was oversubscribed by 3.2 times. The capital raise drew an impressive Dh8.3 billion in total subscriptions, a testament to the strong trust investors place in the bank’s long-term growth strategy despite the current climate of global market volatility. Notably, the Government of Sharjah participated fully in its entitlement, while other shareholders and investors drove demand for the remaining shares to over 4.5 times the available amount. With international investors accounting for roughly 55% of the total demand, this transaction stands as the second-largest rights issue on the Abu Dhabi Securities Exchange in the last two decades.

Leadership at the bank expressed immense gratitude for the widespread participation, noting that the outcome reflects the broader strength and stability of the UAE’s financial sector. SIB Chairman Abdulrahman Alowais highlighted that the overwhelming response validates the bank’s resilient business model and the country's status as a premier global investment hub. CEO Mohamed Abdalla added that this fresh influx of capital provides the bank with a robust foundation to pursue strategic priorities, better support its customers, and ensure sustainable, long-term value for shareholders. Emirates NBD Capital served as the lead manager for this successful financial maneuver, which reinforces SIB’s competitive position moving forward.

Comments0
No comments yet. Be the first to share your thoughts.