SIB Rights Issue Draws AED 8.3 Billion in Subscriptions

Sharjah Islamic Bank (SIB), a UAE-based Sharia-compliant lender listed in Abu Dhabi, proposed the rights issue on Feb. 14, 2026, to support balance-sheet growth and keep capital above regulatory requirements. The offering sought gross proceeds of up to AED 2.59 billion through as many as 1.079 billion new shares priced at AED 2.40 each. If fully issued, the deal would lift paid-up share capital to AED 4.31 billion from AED 3.24 billion, strengthening the bank’s capacity to finance future expansion.

SIB said on May 12 that subscriptions, which closed May 8, exceeded AED 8.3 billion, more than 3.2 times the AED 2.59 billion rights issue. Foreign investors supplied about 55% of demand, while the Government of Sharjah took up its full pro-rata entitlement; excluding the government allocation, other investors oversubscribed the remaining shares by more than 4.5 times. The transaction was the second-largest rights issue on the Abu Dhabi Securities Exchange in 20 years, underscoring broad demand from local, regional and international investors.