Sharjah Islamic Bank's Rights Issue Sees High Demand

May 13, 2026

59 min

May 13, 2026 14:31

Sharjah Islamic Bank rights issue draws Dh8.3 billion in demand

## Oversubscription Success

Sharjah Islamic Bank (SIB) has successfully completed a rights issue, attracting Dh8.3 billion in demand, which is over 3.2 times the initial offering. This significant interest comes despite challenging global market conditions.

## Strengthening Capital

The rights issue, valued at Dh2.59 billion, aims to bolster SIB's capital and support its long-term growth strategies. The transaction is noted as the second-largest rights issue on the Abu Dhabi Securities Exchange in the last two decades.

## Government and Investor Participation

The Government of Sharjah, SIB's largest shareholder, fully subscribed to its share of the offering. Excluding this, the remaining shares were oversubscribed by more than 4.5 times. Notably, foreign investors made up 55% of the demand, indicating strong international interest.

## Investor Confidence

The overwhelming response underscores investor confidence in SIB's financial health and strategic direction. Abdulrahman Alowais, SIB's chairman, highlighted the trust in the bank's fundamentals and the UAE's economic stability.

## Strategic Growth

CEO Mohamed Abdalla emphasized that the additional capital will enhance SIB's ability to pursue strategic goals, support customers, and invest in future growth. Emirates NBD Capital led the transaction, with Emirates NBD Bank and SIB acting as receiving banks.

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