Emirates Islamic Bank planning AED1.5bn rights issue
Emirates Islamic Bank is planning a AED1.5bn rights issue, according to a statement to the Dubai exchange. It is planning to raise its capital to AED5.4bn from AED3.9bn. The bank is a subsidiary of Emirates NBD, which owns 98.9% of its shares. (Bloomberg) Emirates NBD: AED8.10 as of 05 October 2016, Rating: Buy, FV: AED10.00 per share, MCap: USD12,266mn, EMIRATES UH / ENBD.DU
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