First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates by assets, plans to raise up to AED 15 billion ($4.08 billion) through a rights issue to finance its next phase of expansion across domestic and international markets, Forbes Middle East reported citing a bank statement.
The lender's board has approved the offering of over 1.1 billion new shares at AED 13.52 ($3.70) per share, representing a 30% discount to its closing price on the Abu Dhabi Securities Exchange on November 10, 2026. Eligible shareholders will be permitted to subscribe on a pro-rata basis to retain their existing holdings.
Mubadala Investment Company, FAB's largest shareholder with a 37.9% stake, intends to subscribe for its full entitlement under the rights issue. The transaction remains subject to shareholder approval at a General Assembly meeting scheduled for December 7, 2026, as well as required regulatory clearances.
FAB Group Chief Executive Officer Hana Al Rostamani stated that the capital increase would help the lender capture growth opportunities across its domestic operations and international network, while strengthening its competitive position. The transaction is slated to be completed in the first quarter of 2027.
Sources
- Forbes Middle East · 2026-11-11
