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CORRECTED-Abu Dhabi Islamic Bank seeks to expand Tier 1 sukuk programme
May 28, 2015 / 5:38 AM / 2 years ago

CORRECTED-Abu Dhabi Islamic Bank seeks to expand Tier 1 sukuk programme

(Corrects to show looking to increase programme size to $3 bln from $2 bln, size of capital increase)

DUBAI, May 28 (Reuters) - Abu Dhabi Islamic Bank will ask shareholders for permission to expand its existing Tier 1 sukuk programme to $3 billion from $2 billion, it said in a bourse filing on Thursday.

The increase is subject to regulatory approval, the Abu Dhabi lender said.

It will also ask shareholders to vote to increase the bank’s capital by 504 million dirhams ($137.2 million) through a rights issue.

$1 = 3.6730 UAE dirham Reporting by Hadeel Al Sayegh; editing by David French and Jason Neely

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