FAB to raise $4.08bn to boost next phase of growth strategy
First Abu Dhabi Bank plans to raise Dh15 billion ($4.08 billion) through a rights issue as it prepares for “the next phase” of its growth strategy across the UAE and its global portfolio. The UAE's biggest bank will be offering 1,109,467,456 new shares, with each to be offered at Dh13.52, a 30 per cent discount on its closing share price on Tuesday, a FAB statement on Wednesday said. Mubadala…
We haven't written up this one. The National UAE has the full story — the link below goes straight to it.
