Dubai Financial Market (DFM) announced that the rights issue of Ajman Bank will be tradable on the exchange between October 10 and 24.

Ajman Bank will increase its capital to Dh2.1 billion through issue of 419 million shares at Dh1 each, the DFM said in a statement.

The rights are distributed amongst shareholders in proportion to the number of shares they own and would be recorded in their accounts with brokerage or custody firms.

Trading of the rights issue enables existing shareholders of the bank who do not wish to subscribe to the new shares, which the bank plans to issue as part of its capital increase, to sell all or part of their rights to other investors who do wish to subscribe.

From :Gulfnews