ADIB opens AED 1.75bn rights issue as UAE bank equity raises continue

Abu Dhabi Islamic Bank opened a AED 1.75 billion rights issue for subscription, the fourth equity raise by a UAE bank since mid-2025. Shareholders can subscribe at AED 16.45 per share, 28.8 percent below the closing price on the day before the board approved the raise in August 2026, according to a disclosure cited by Enterprise AM. The subscription period runs until 24 November 2026.

Rights trading and new share listing schedule#

Rights trade on the Abu Dhabi Securities Exchange until 16 November 2026. New shares resulting from the issue are scheduled to begin trading on 18 December 2026. The raise brings the total raised by UAE banks through rights issues since mid-2025 to approximately AED 11.5 billion, Enterprise AM reported.

Earlier UAE bank equity raises and their outcomes#

Three UAE banks completed rights issues before ADIB. Abu Dhabi Commercial Bank raised AED 6.1 billion in December 2025, drawing commitments exceeding AED 12 billion, with Mubadala Investment Company taking up its full entitlement. United Arab Bank raised AED 1.03 billion in the third quarter of 2025. Sharjah Islamic Bank raised AED 2.59 billion in May 2026, with the issue 3.2 times oversubscribed and foreign investors accounting for 55 percent of demand, Enterprise AM reported. Sharjah Islamic Bank's capital adequacy ratio stood at 19.5 percent at end-June 2026 compared with 16.2 percent at end-2025, following its raise.

Analyst expectations for further equity issuance#

Analysts cited by Enterprise AM in September 2026 expected further rights issues and follow-on offerings from established, liquid names in the fourth quarter of 2026 and early 2027, given the scarcity of initial public offerings during 2026.

FAB preliminary discussions on potential raise#

First Abu Dhabi Bank executives have held preliminary discussions on a potential rights issue of around USD 5 billion, equivalent to approximately AED 18.4 billion, Bloomberg reported on 9 November 2026, citing people familiar with the matter. The size would be about triple the largest rights issue previously completed on the Abu Dhabi Securities Exchange. Executives held informal talks with several large Wall Street banks, though it remains unclear whether any have been mandated, and the size could change, Bloomberg reported. First Abu Dhabi Bank declined to comment and may not proceed with the raise. One source cited by Bloomberg said the capital would be directed toward opportunities in the UAE.