Cairo – Mubasher: The Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) announced that subscription to its issued and paid-up capital raise was covered by 93.48%.
A total of 93.48 million shares were subscribed during the first phase of subscription, which took place from 18 December 2022 to 16 January 2023, according to a stock exchange statement on Wednesday.
The remaining shares, amounting to 6.51 million shares, will be offered through a second phase of subscription.
In October 2022, the lender’s ordinary general meeting (OGM) approved increasing the bank’s issued and paid-up capital by EGP 1 billion to EGP 5 billion from EGP 4 billion.
The capital hike will be distributed over 100 million shares at a nominal value of EGP 10 a share.
In the first nine months (9M) of 2022, ADIB Egypt reported consolidated net profits worth EGP 1.58 billion, higher than EGP 1.06 billion in 9M-21.
