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United Arab Bank calls for shareholders meeting on planned capital increase

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United Arab Bank calls for shareholders meeting on planned capital increase

United Arab Bank PJSC has called for a general assembly of shareholders to be held Jan. 15, 2018, to consider and approve a plan to increase its issued capital to 2.06 billion United Arab Emirates dirhams from 1.38 billion dirhams?.

Under the plan, 687,516,883 new shares of the bank will be issued for 1 dirham per share.

As of Dec. 12, US$1 was equivalent to 3.67 UAE dirhams.