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.

By A Staff Reporter

Published: Mon 27 Jun 2005, 10:37 AM

Last updated: Thu 2 Apr 2015, 4:45 PM

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.

Earlier, the bank decided to issue a medium euro note programme amounting to $1.5 billion to be listed on the Luxembourg stock market.

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