Advertisement

Sharjah Islamic Bank Announces Strategic Capital Increase Through Rights Issue
Business

Advertisement

Sharjah Islamic Bank (SIB) has received approval to enhance its capital by launching a strategic rights issue aimed at generating gross proceeds up to Dh2.59 billion.

The planned rights issue will elevate SIB’s issued capital from Dh3,235,677,638 to Dh4,314,236,850 by issuing up to 1,078,559,212 new shares. These shares will be offered at a price of Dh2.40 each, which includes a nominal value of Dh1.00 and a share premium of Dh1.40. This price reflects a 37% discount compared to the closing share price of SIB’s shares on the Abu Dhabi Securities Exchange as of February 13, 2026, the last trading day prior to the AGM invitation being published.

The rights issue is anticipated to benefit both the Bank and its shareholders by enhancing its capacity for significant asset growth, while also keeping pace with evolving regulatory demands. The Bank remains dedicated to delivering strong and sustainable returns.

SIB plans to utilize the net proceeds from the rights issue to reinforce its capital base, exceeding regulatory capital adequacy requirements, extend its balance sheet growth potential, and maintain attractive returns for shareholders.

Abdulrahman Alowais, Chairman of SIB, stated: “This important announcement reflects our long-term commitment to our shareholders and the UAE investor community. We are excited to provide our dedicated shareholders the chance to participate in our ongoing growth and success, aligning with the growth agenda of both the emirate and national governments.”

Mohamed Abdalla, CEO of SIB, commented: “This landmark transaction marks a critical step for SIB, allowing us to accelerate our growth and deliver enhanced value to our shareholders. We remain committed to upholding strong capital foundations and supporting the Bank's sustainable development.”

Emirates NBD Capital PSC has been appointed as the Lead Manager, while Emirates NBD Bank will serve as the Lead Receiving Bank, with SIB acting as the Receiving Bank.

look Watch AD
Unlock More

Advertisement

Advertisement

line Recommend Recommend
The Impact of the Strait of Hormuz Closure on Global Oil Prices
The Impact of the Strait of Hormuz Closure on Global Oil Prices
Paramount Skydance Submits Higher Bid for Warner Bros Discovery in Ongoing Bidding War
Paramount Skydance Submits Higher Bid for Warner Bros Discovery in Ongoing Bidding War
UAE Carriers Extend Flight Suspensions Due to Ongoing Military Conflict
UAE Carriers Extend Flight Suspensions Due to Ongoing Military Conflict
UAE carriers have extended flight suspensions for a fourth day due to airspace closure amid the ongoing military conflict in the region involving the US, Israel, and Iran.
The Impact of Geopolitical Tensions on Bitcoin and Cryptocurrency Markets
The Impact of Geopolitical Tensions on Bitcoin and Cryptocurrency Markets
Middle Eastern Sovereign Credit Ratings and Potential Impacts of Regional Conflict
Middle Eastern Sovereign Credit Ratings and Potential Impacts of Regional Conflict
The Indian Rupee Hits Record Low Against US Dollar
The Indian Rupee Hits Record Low Against US Dollar
Silver outshines gold, jumps over 3% in early Dubai trade
Silver outshines gold, jumps over 3% in early Dubai trade
Gold prices were steady in Dubai on Friday morning as investors focus on the outcome of the US-Iran talks. But silver prices jumped over three per cent, outpacing the yellow metal in early trade.
The UAE Restores Air Traffic Amid Recent Regional Developments
The UAE Restores Air Traffic Amid Recent Regional Developments
Gold and Silver Prices Recover in Dubai After Previous Losses
Gold and Silver Prices Recover in Dubai After Previous Losses
Bitcoin rebounds as liquidations,  ETF inflows spark recovery
Bitcoin rebounds as liquidations,  ETF inflows spark recovery
Bitcoin has staged a sharp rebound after a week of heavy selling, climbing about 5–6 per cent to trade near the $68,000–$70,000 range and briefly revisiting its previous 2021 peak around $69,000.
The Turmoil in Oil Markets: Escalating US-Iran Conflict Raises Fear of Supply Disruption
The Turmoil in Oil Markets: Escalating US-Iran Conflict Raises Fear of Supply Disruption
Gold Prices Rise in Dubai Amid Ongoing Military Conflict in the Middle East
Gold Prices Rise in Dubai Amid Ongoing Military Conflict in the Middle East
Dubai Multi Commodities Centre Reveals Plans for 600-Metre Mixed-Use Tower in Uptown District Expansion
Dubai Multi Commodities Centre Reveals Plans for 600-Metre Mixed-Use Tower in Uptown District Expansion
US weekly jobless claims increase marginally as labour market stabilises
US weekly jobless claims increase marginally as labour market stabilises
The number of Americans filing new applications for jobless benefits increased marginally last week and the unemployment rate appeared to hold steady in February amid a stable labor market.
Sharjah property market starts 2026 on a high note with record Dh9.3 billion deals in January
Sharjah property market starts 2026 on a high note with record Dh9.3 billion deals in January
Sharjah’s real estate market began 2026 on a high note, as the value of property transactions jumped 34.8 per cent in January 2026 to Dh9.3 billion, compared to Dh7 billion in January last year.
Application Submitted to Increase Parking Tariffs in Dubai
Application Submitted to Increase Parking Tariffs in Dubai
The Impact of Military Conflict on Flights in the Middle East
The Impact of Military Conflict on Flights in the Middle East
The Cryptocurrency Market Outlook for March 2026
The Cryptocurrency Market Outlook for March 2026
The Rise of Dubai as a Global Wealth Destination
The Rise of Dubai as a Global Wealth Destination
The Impact of Iran War on Emerging Markets and Energy Prices
The Impact of Iran War on Emerging Markets and Energy Prices