March 12, 2018 / 5:42 AM / 7 months ago

BRIEF-United Arab Bank's Rights Issue oversubscribed By 124 pct

March 12 (Reuters) - UNITED ARAB BANK:

* BANK’S RIGHTS ISSUE SUCCESSFULLY SUBSCRIBED BY 124 PERCENT

* ANNOUNCES COMPLETION OF ITS CAPITAL INCREASE TO INCREASE THE BANK’S CAPITAL FOR AMOUNT OF AED 687.5 MILLION

* RIGHTS ISSUE WILL BE IN FORM OF 687.5 MILLION NEWLY ISSUED SHARES, WITH NEW SHARES PRICED AT AED 1 PER SHARE, WHICH WOULD INCREASE THE BANK'S ISSUED SHARE CAPITAL TO AED 2.06 BILLION Source: (bit.ly/2p2z8Tu) Further company coverage:

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