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UNB is set to issue 500m right shares
ABU DHABI — An extraordinary general meeting of the Union National Bank (UNB) will be convened on July 6, to give approval to board of directors recommendation increasing the paid up capital by upto 50 per cent, by issuing 500 million right shares.
In a communication to the Abu Dhabi Securities Market (ADSM) Mohammed Nasr Abdeen said that the EOGM would also decide on the amount of premium to be charged which could be upto Dh7, on a Dh1 share.
The UNB is increasing its paid-up capital in its efforts to reposition itself to get its due market share in the fast changing development scene in the emirate, as free hold property ownership has opened-up huge opportunities in the real estate sector.
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