Latest news with #RightsIssue
Mint
3 days ago
- Business
- Mint
Infibeam Avenues Rights Issue: Small-cap stock up 3% as rights issue record date, ratio, price, other key details out
Infibeam Avenues share price rallied over 3% on Friday after the company approved the launch of rights issue to raise up to ₹ 699.99 crore. The small-cap stock gained as much as 3.54% to ₹ 22.22 apiece on the BSE. The Rights Issue Committee of Infibeam Avenues, at its meeting held on June 19, approved raising funds of up to ₹ 6,99,98,57,230 through the rights issue. Infibeam Avenues' promoter group has announced its participation in the company's Rights Issue. 'The Promoter and Promoter Group have confirmed that they will subscribe to the rights entitlements to the full extent and may renounce them, in full or in part, only in favour of members of the Promoter and Promoter Group. They also intend to subscribe to additional shares and any unsubscribed portion of the issue, subject to compliance with minimum public shareholding norms,' Infibeam Avenues said in a release. Infibeam Avenues also fixed the Record Date for the Rights Issue of equity shares of the company. 'This Rights Issue offers our loyal shareholders a meaningful opportunity to participate in the company's next transformative phase. The capital raised will drive innovation, scale, and strategic expansion — in lockstep with our investor community,' said Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd. Here are key details of Infibeam Avenues Rights Issue: Rights Issue Dates: Infibeam Avenues Rights Issue will open on Thursday, July 3, 2025, and close on Friday, July 11, 2025. The last date for on-market renunciation of rights entitlements is Monday, July 7, 2025, and for off-market renunciation, it is Thursday, July 10, 2025. Total Rights Issue Shares: Infibeam Avenues rights issue comprises 69,99,85,723 partly paid-up equity shares of face value ₹ 1 each. Rights Issue Price: The issue price for the Infibeam Avenues rights equity shares is ₹ 10 per share (including a premium of ₹ 9 per share). Rights Issue Payment Schedule: The amount payable will be made in two tranches — ₹ 5 per share on application ( ₹ 0.50 towards face value and ₹ 4.50 towards premium), and the remaining ₹ 5 on a final call to be determined by the Board or the Rights Issue Committee. Rights Issue Size: The total size of Infibeam Avenues Rights Issue is ₹ 6,99,98,57,230. Rights Issue Record Date: The record date to determine eligible shareholders for Infibeam Avenues Rights Issue is June 26, 2025. Eligible Rights Entitlement Ratio: Infibeam Avenues Rights Issue ratio is 67:267, which means shareholders will be entitled to 67 rights equity shares for every 267 fully paid-up equity shares held on the record date. Outstanding Equity Shares: Assuming full subscription, the total outstanding equity shares of the company after the Rights Issue will increase to 3,48,94,81,069 from 2,78,94,95,346. At 11:25 AM, Infibeam Avenues share price was trading 1.40% higher at ₹ 21.76 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Yahoo
7 days ago
- Business
- Yahoo
AlzeCure Carries out a Rights Issue of Approximately SEK 48.5 million
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, WITHIN OR INTO THE RUSSIAN FEDERATION, BELARUS, AUSTRALIA, HONGKONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE CONTRAVENING TO ANY APPLICABLE RULES. ADDITIONAL RESTRICTIONS ARE APPLICABLE, PLEASE SEE "IMPORTANT INFORMATION" IN THE END OF THIS PRESS RELEASE. STOCKHOLM, SE / / June 16, 2025 / AlzeCure Pharma (STO:ALZCUR)(FRA:AC6) - AlzeCure Pharma AB ("AlzeCure" or the "Company"), a pharmaceutical company that develops a broad portfolio of small molecule drug candidates for diseases affecting the central nervous system, with projects in both Alzheimer's disease and pain, today announces that the Board of Directors has resolved on a new share issue of approximately SEK 48.5[1] million with preferential rights for existing shareholders (the "Rights Issue"). The Rights Issue is subject to approval by an extraordinary general meeting to be held on 2 July 2025. The record date for participation in the Rights Issue is 4 July 2025. According to the terms of the Rights Issue, one (1) existing share in AlzeCure entitles the holder to one (1) subscription right, and four (4) subscription rights entitle the holder to subscribe for one (1) new share at a subscription price of SEK 2.20 per share. The Rights Issue is secured to approximately 42 percent through subscription undertakings from existing shareholders, including members of the Company's management and Board of Directors. In order to enable additional capital raise, the Board may also resolve on the exercise of an over-allotment option of up to approximately SEK 10 million (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, the total gross proceeds may amount to approximately SEK 58.5 million. A separate notice to the extraordinary general meeting will be published. "We are very pleased that all of our major existing shareholders, as well as all members of the Board of Directors, support our exciting projects by committing to subscribe for their respective pro-rata shares in the Rights Issue, alongside myself. Given this strong support and considering our upcoming capital needs, we are in the fortunate position of not requiring external guarantors for this transaction, which makes the Rights Issue cost-efficient. The proceeds will be used to prepare for the upcoming Phase 2 study with ACD856 in Alzheimer's patients, which is also co-financed by the European Innovation Council (EIC). In addition to the EUR 2.5 million grant from EIC, we have also received an offer for further potential funding through an EIC equity investment in AlzeCure, which we are currently evaluating. The proceeds will also support continued business development efforts, with a focus on out-licensing ACD440 following the positive feedback from the FDA regarding a Phase 2b/3 registration study, which adds value for our shareholders," says Martin Jönsson, CEO of AlzeCure Pharma AB. Background and rationale for the Rights IssueAlzeCure® is a Swedish pharmaceutical company focused on developing novel, innovative small molecule therapies for the treatment of severe diseases affecting the central nervous system, such as Alzheimer's disease and pain - indications for which current treatment options remain very limited. The Company is listed on Nasdaq First North Premier Growth Market and is developing several drug candidates in parallel across its three research platforms: NeuroRestore®, Alzstatin®, and Painless. The medical need in the Alzheimer's space remains significant, with the number of patients expected to triple over the next 30 years. [2] Studies show that only 5 to 8 percent of Alzheimer's patients referred to memory clinics are suitable for treatment with the recently approved antibody-based therapies.[3] Despite this, such therapies are expected to generate peak annual sales exceeding SEK 100 billion. NeuroRestore ACD856 has shown potent memory- and learning-enhancing effects in preclinical models and new studies also indicate disease-modifying potential. ACD856 has shown neuroprotective and anti-inflammatory properties and is currently being prepared for Phase II.[4] Alzstatin ACD680 has demonstrated a strong ability to reduce the production of the toxic Ab42 protein - the building block of the amyloid plaques that are so characteristic of Alzheimer's disease. Together, these results suggest that AlzeCure's two Alzheimer's projects, NeuroRestore and Alzstatin, have the potential to become important stand-alone therapies as well as to complement antibody-based treatments, thereby addressing a significant unmet medical need. The Painless platform, which includes the pain projects ACD440 and TrkA-NAM, is also advancing. ACD440, a topically administered gel for neuropathic pain, has previously shown a statistically significant analgesic effect in patients with chronic nerve pain. Preparations are ongoing for the continued clinical development of ACD440, for which the Company recently received positive feedback from the FDA on a planned Phase 2b/3 registration study in erythromelalgia. TrkA-NAM, a project targeting pain associated with knee osteoarthritis, has this year demonstrated potent analgesic effects in preclinical models and also shown joint-protective properties. Both projects address areas with high medical need. In the United States alone, approximately 50 million adults are estimated to suffer from chronic severe pain - more than the total number of people affected by diabetes, heart disease and cancer combined.[5] Data from Europe show similar trends, and the associated healthcare and societal costs are estimated to amount to 3-10 percent of GDP.[6] Due to the risk of misuse, overdose, and secondary harm, opioids are typically avoided in pain treatment, highlighting the need for new non-opioid treatment options. All of the Company's projects are progressing strongly. The Company is engaged in multiple discussions regarding potential licensing or collaboration agreements across its pipeline. The scientific value of the programs is also validated by the significant, highly competitive EIC Accelerator grant of EUR 2.5 million awarded to the NeuroRestore ACD856 project. In addition, the Company has been offered the opportunity to receive further funding through the EIC Fund, subject to additional due diligence and certain conditions. Against this backdrop, the Board considers it strategically valuable to strengthen the Company's cash position at this stage, in order to improve the Company's negotiating position and to fully leverage the opportunities presented through the EIC. The net proceeds from the Rights Issue will be used for the following purposes: Continued safety and toxicology studies, as well as preparations for Phase I clinical trials for the Alzheimer's project Alzstatin, aimed at early preventive treatment. Initiation of preparatory activities for the upcoming Phase 2a clinical trial in patients with early Alzheimer's for NeuroRestore ACD856, designed to enhance memory and learning. This study is also co-funded by the European Innovation Council. Continued safety and toxicology studies, as well as preparations for Phase I clinical trials for TrkA-NAM ACD137, targeting pain treatment of knee osteoarthritis. Intensified business development efforts aimed at achieving out-licensing and/or partnerships for the Company's drug candidates, with a primary focus on the pain program ACD440. These efforts are intended to support long-term financing and development opportunities for the Company's project portfolio. Summary of the Rights Issue One (1) existing share in AlzeCure held on the record date of 4 July 2025 entitles the holder to one (1) subscription right. Four (4) subscription rights entitle the holder to subscribe for one (1) newly issued share. The subscription price is SEK 2.20 per share. Through the Rights Issue, AlzeCure may raise up to approximately SEK 48.5 million before deduction of issue-related costs (estimated at approximately SEK 2.9 million). The subscription period runs from 8 July 2025 to 22 July 2025. Subscription rights that are not exercised during the subscription period will become invalid and lose their value. Trading in subscription rights is expected to take place on Nasdaq First North Premier Growth Market between 8-17 July 2025. The Board's resolution on the Rights Issue is conditional upon approval by the extraordinary general meeting to be held on 2 July 2025. The notice convening the extraordinary general meeting will be published in connection with this press release. The Company has received subscription undertakings from existing shareholders, board members and management to subscribe for shares corresponding to approximately SEK 20 million, or about 42 percent of the Rights Issue. These undertakings are not secured by bank guarantees, blocked funds, pledges or similar arrangements. Based on the authorization granted at the Annual General Meeting on 14 May 2025, the Board also has the option to utilize an over-allotment option of SEK 10 million. The over-allotment option is intended primarily for strategic and/or qualified investors who apply to subscribe in the Rights Issue but do not receive full allocation. Any remaining allocation will follow the principles applicable to the Rights Issue. Full terms and conditions of the Rights Issue as well as additional information about the Company will be set out in the Annex IX, prepared and published in accordance with Article 1.4 i) db) of the Prospectus Regulation, which is expected to be published on or around 4 July 2025. The timetable is preliminary and subject to change. Preliminary timetable for the Rights Issue2 July 2025 - Extraordinary general meeting 2 July 2025 - Last day of trading in shares including the right to receive subscription rights 3 July 2025 - First day of trading excluding the right to receive subscription rights 4 July 2025 - Record date for participation in the Rights Issue 4 July 2025 - Publication of the Annex IX 8-22 July 2025 - Subscription period 8-17 July 2025 - Trading in subscription rights on Nasdaq First North Premier Growth Market 24 July 2025 - Announcement of the outcome of the Rights Issue Changes in share capital, number of shares and dilutionThrough the Rights Issue, the Company's share capital may increase by a maximum of SEK 551,845, from SEK 2,207,380 to SEK 2,759,225, through the issuance of up to 22,073,800 new shares. As a result, the number of shares may increase from 88,295,200 to a maximum of 110,369,000 shares. For shareholders who do not participate in the Rights Issue, this corresponds to a dilution effect of approximately 20 percent of the capital and votes in the Company, assuming full subscription. Over-Allotment OptionTo enable additional capital inflow in the event the Rights Issue is oversubscribed, the Board may resolve to utilize the Over-Allotment Option. Shares issued under the Over-Allotment Option will be primarily allocated to strategic and/or qualified investors who apply to subscribe in the Rights Issue without receiving full allocation. Any remaining shares will be allocated in accordance with the principles of the Rights Issue. If fully exercised, the Over-Allotment Option may raise an additional SEK 10 million. This would result in the issuance of an additional 4,545,455 shares at the subscription price of SEK 2.20 per share. The Board intends to resolve on the Over-Allotment Option based on the existing issuance authorization. If fully utilized, the Over-Allotment Option would increase the share capital by SEK 113,636, corresponding to additional dilution of approximately 3 percent. The total dilution, including the Rights Issue and the Over-Allotment Option, would thus amount to approximately 23 percent. Approval at the Extraordinary General MeetingTo obtain shareholder approval of the Board's resolution on the Rights Issue, the Company will convene an extraordinary general meeting, scheduled to be held on 2 July 2025. A separate notice convening the meeting will be published. AdvisorsAlzeCure has engaged Zonda Partners AB and Synch Advokat AB as financial and legal advisors, respectively, in connection with the Rights Issue. Important informationThe information in this press release does not contain nor constitute an offer to acquire, subscribe for or in any other way trade with shares, warrants or other securities in AlzeCure. No measures have been taken and no measures will be taken in order to allow for an offer to the public in any other jurisdictions than Sweden. Offer to for the relevant persons to subscribe for shares in AlzeCure will only be made through the Annex IX which AlzeCure expects will be published around July 4, 2025. The information in this press release may not be made public, be published or distributed, directly or indirectly, within or to USA, Belarus, Russia, Australia, Hongkong, Japan, New Zeeland, Switzerland, Singapore, South Africa or any other jurisdiction where such action would be illegal, subject to legal restrictions or require other actions than what is stipulated under Swedish law. Any actions not in compliance with these instructions may constitute a violation against applicable securities regulation. No shares or other securities in AlzeCure have been registered, and no shares or other securities will be registered, under United States Securities Act of 1933 ("Securities Act") as in force from time to time or under the securities laws in any state or other jurisdiction in the US and may not be offered, sold or in any other way transferred, directly or indirectly, in or to the US, except for pursuant to an applicable exemption from, or in a transaction not subject to, the registration rules in the Securities Act and in compliance with the securities regulations in the relevant state or other jurisdiction in the US. This communication is distributed and aimed for only persons in Great Britain who are (i) professional investors under Article 19(5) in UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("Order") as in force from time to time or (ii) subjects with a high net wealth and other persons to whom this message can be legally addressed, who are subject to Article 49(2)(a)-(d) in the Order (all those persons referred to as "Relevant Persons"). Persons who are not Relevant Persons may not act on or rely on the information in this communication. An investment or investment action referred to in this communication is only possible for Relevant Persons and will only be closed with Relevant Persons. Persons who distribute this communication must themselves make certain that such distribution is allowed. Forward-looking statementsThis press release contains forward-looking statements regarding the Company's intentions, assessments, or expectations in respect of the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and possibilities as well as the market within which the Company operates. Forward-looking statements are statements which do not refer to historical facts and which typically contain words such as "considers", "expects", "predicts", "intends to", "estimates", "will", "can", "presumes", "should", "may" and, in each case, negations thereof or other similar expressions. The forward-looking statements in this press release are based on different assumptions which, in several cases, are based on additional assumptions. Even if the Company considers the assumptions which are reflected in these forward-looking statements to be true, it cannot be guaranteed that they will in fact occur or that they are correct. Given that these assumptions are based on assumptions or estimates and that they are subject to risks and uncertainties, the actual result may, for many reasons, substantially deviate from what is stated in the forward-looking statements. Such risks, uncertainties, eventualities, and other significant factors may lead to the actual events deviating substantially from the expectations that have been explicitly or implicitly provided for under this press release through the forward-looking statements. The Company does not guarantee that the assumptions which the forward-looking statements in this press release are based on are correct, and a reader of this press release should not unduly rely on the forward-looking statements contained herein. The information, opinions, and forward-looking statements which are either explicitly or implicitly presented herein, are only provided as of the day of this press release and may be subject to change. Neither the Company nor anyone else undertakes to oversee, update, confirm or provide public notification in respect of any change of any forward-looking statement for the purpose of reflecting the actual events or circumstances which occurs in respect of the content of this press release, unless required by law or Nasdaq First North Growth Market's rules for issuers. [1] The exact amount is SEK 48,562,360.[2] Dementia facts and figures. Alzheimer's Disease International. hämtad 2023-10-12.[3] Eligibility for Anti-Amyloid Treatment in a Population-Based Study of Cognitive Aging; Rioghna R. Pittock et al; Neurology, 2023;101:e1837-e1849. .[4] Preclinical evidence for anti-inflammatory and immunomodulatory effects of NeuroRestore ACD856, a Trk-PAM in clinical development for the treatment of Alzheimer's disease, Parrado-Fernández, C., CTAD poster, October 2024. se/en/wp-content/uploads/sites/2/2024/10/ Dahlhamer, J. et. al., Prevalence of Chronic Pain and High-Impact Chronic Pain Among Adults - United States, 2016.[6] Leadley, R. M. et. al., Journal of Pain & Palliative Care Pharmacotherapy Volume 26,2012 issue 4, Chronic Diseases in the European Union: The Prevalence and Health Cost Implications of Chronic Pain, 2012. For more information, please contact Martin Jönsson, CEOTel: +46 707 86 94 About AlzeCure Pharma AB (publ) AlzeCure ® is a Swedish pharmaceutical company that develops new innovative drug therapies for the treatment of severe diseases and conditions that affect the central nervous system, such as Alzheimer's disease and pain - indications for which currently available treatment is very limited. The company is listed on Nasdaq First North Premier Growth Market and is developing several parallel drug candidates based on three research platforms: NeuroRestore ® , Alzstatin ® and Painless. NeuroRestore consists of two symptomatic drug candidates where the unique mechanism of action allows for multiple indications, including Alzheimer's disease, as well as cognitive disorders associated with traumatic brain injury, sleep apnea and Parkinson's disease and is being prepared for phase 2. The Alzstatin platform focuses on developing disease-modifying and preventive drug candidates for early treatment of Alzheimer's disease. Painless is the company's research platform in the field of pain and contains two projects: ACD440, which is a drug candidate in the clinical development phase for the treatment of neuropathic pain with positive phase 2 results, and TrkA-NAM, which targets severe pain in conditions such as osteoarthritis. AlzeCure aims to pursue its own projects through preclinical research and development through an early clinical phase, and is continually working on business development to find suitable outlicensing solutions with other pharmaceutical companies. FNCA Sweden AB is the company's Certified Adviser. For more information, please visit . This information is information that AlzeCure Pharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-06-16 08:00 CEST. Attachments AlzeCure carries out a rights issue of approximately SEK 48.5 million SOURCE: AlzeCure Pharma View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
The last day of trading in unit rights in Terranet's rights issue
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. Today, June 5, 2025, is the last day of trading in unit rights issued in connection with Terranet AB's ("Terranet" or the "Company") rights issue of units which the Board of Directors resolved on April 16, 2025, and was approved by the annual general meeting on May 23, 2025 (the "Rights Issue"). Unit rights that are not sold or used for subscription will expire worthless. Summary of the Rights Issue: The Rights Issue comprises a maximum of 13,880,714 units. One unit in the Rights Issue consists of twelve (12) B-shares and three (3) warrants of series TO9 B. The warrants are issued free of charge. The subscription price per unit in the Rights Issue is SEK 1.08 per unit, corresponding to SEK 0.09 per B-share. Upon full subscription, the Rights Issue will provide Terranet with approximately SEK 15 million before deduction of issue costs. The right to subscribe for units in the Rights Issue shall, with preferential rights, be granted to shareholders in proportion to the number of shares they already own, where one (1) existing share entitles the holder to one (1) unit right, and eighty-six (86) unit rights entitle the holder to subscribe for one (1) unit. The last day of trading in Terranet's B-shares including the right to receive unit rights in the Rights Issue was April 25, 2025. The B-shares will be traded excluding the right to receive unit rights from April 28, 2025. The subscription period for the Rights Issue runs from May 27, 2025, up to and including June 11, 2025. The Rights Issue is covered by subscription commitments of approximately SEK 35.2 thousand, corresponding to 0.2 percent of the Rights Issue, and underwriting commitments of approximately SEK 15 million, corresponding to approximately 99.8 percent of the Rights Issue. Thus, the Rights Issue is covered to 100 percent by subscription commitments and underwriting commitments. Preliminary timetable for the Rights Issue May 27, 2025 – June 5, 2025 Trading in unit rights May 27, 2025 – June 11, 2025 Subscripition period May 27, 2025 – June 30, 2025 Trading in paid subscribed units (BTU) June 13, 2025 Preliminary date for publication of the outcome in the Rights Issue AdvisersMangold Fondkommission AB is the financial advisor to Terranet in connection with the Rights Issue. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the Rights Issue. Dan Wahrenberg, CFOE-mail: goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet's anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: Certified Adviser to Terranet is Mangold Fondkommission AB. Important informationThe release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Terranet in any jurisdiction, neither from Terranet nor anyone else. This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the 'Securities Act'), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations. Attachment Press release - Last day for trading URError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Bawaba
05-06-2025
- Business
- Al Bawaba
United Arab Bank PJSC launches strategic Rights Issue to raise up to AED 1.03 billion
United Arab Bank PJSC ("UAB"), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Zawya
04-06-2025
- Business
- Zawya
United Arab Bank PJSC launches strategic rights issue to raise up to AED 1.03bln
United Arab Emirates: United Arab Bank PJSC ("UAB"), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July 2025. Commenting on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. Expected Timetable of Principal Events * In order to receive Rights on the Eligibility Date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the Eligibility Date, i.e. on or before 17 June 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis). About United Arab Bank P.J.S.C. United Arab Bank P.J.S.C. (UAB) was established in 1975, in the Emirate of Sharjah as a joint venture between key UAE and international investors, and its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). UAB offers a wide range of Wholesale Banking, Retail Banking, Treasury & Financial Markets, as well as Shari'ah compliant products, services and flexible solutions, to meet the ever-evolving needs of our clients and the markets. Today, UAB is recognized as one of the few home-grown banks in the UAE, striving to enhance the lives of people by humanizing banking through impeccable service and tailored financial support. UAB is rated investment grade, both, by Moody's (Baa3/P-3/Positive) and Fitch (BBB+/F2/Stable). For further information please visit or contact: Sirine El Merhebi Marketing & Communications Department Direct Line: +971 6 507 5415 Mobile: +971 5 5607 2929 Email:
