Dubai: First Abu Dhabi Bank (FAB) plans to raise up to Dh15 billion through a rights issue priced at a 30% discount to its latest closing share price, as the UAE's largest bank by assets seeks additional capital to expand lending and investment across its domestic and international markets.
The bank's board approved the proposed issue of approximately 1.11 billion new shares at Dh13.52 each, compared with FAB's closing price on November 10, 2026. The transaction remains subject to shareholder and regulatory approvals, with completion expected in the first quarter of 2027.
Mubadala Investment Company, FAB's largest shareholder with a 37.9% stake, intends to subscribe for its full entitlement, the bank said on Wednesday. The proposed fundraising would give existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and maintain their ownership percentage.
Get updated faster and for FREE: Download the Gulf News app now - simply click here.
What new capital will fund
FAB said the proceeds would support lending growth, deeper relationships with corporate and institutional clients, and expansion across its international network. The bank also plans to invest in technology, artificial intelligence and other capabilities supporting its operations.
"The proposed Rights Issue will further strengthen FAB's ability to support the UAE's ambitions and capture the opportunities ahead,"
