IBRAHIM .N. PARTNERS Successfully Represents Ajman Bank in Oversubscribed AED 550 Million Rights Issue and Reassure the Firm’s leading role in UAE Capital Markets
UAE, 8 August 2023 – Leading law firm IBRAHIM .N. PARTNERS is thrilled to announce its successful representation of Ajman Bank as transactional lead counsel in relation to its recent AED 550 million Rights Issue. The response to the offering has been overwhelming, with a subscription rate of 7.4 times the initial offering size, indicating strong investor confidence in Ajman Bank’s prospects.
The Rights Issue garnered substantial interest, with total subscription demand reaching an impressive AED 4.1 billion. This remarkable response showcases the trust and enthusiasm of both local and international investors in Ajman Bank’s growth trajectory and strategic initiatives.
The initiative attracted significant attention from renowned international investment banks, as well as local investors, further highlighting the bank’s solid reputation and potential for delivering value to its stakeholders. Ajman Bank’s commitment to innovation, customer-centric solutions, and responsible banking practices has undoubtedly played a pivotal role in driving this substantial investor interest.
Mr. Ahmed Ibrahim, Managing Partner at IBRAHIM .N. PARTNERS, expressed his satisfaction with the outcome of the Rights Issue: “in continuation of our longstanding business relationship with Ajman Bank, we are proud to have represented the bank in this successful Rights Issue. The oversubscription rate and the strong demand from both local and international investors underscore the bank’s strong standing in the market. This achievement reflects our dedication to supporting our clients in achieving their strategic goals.”
This milestone not only strengthens Ajman Bank’s capital base but also positions it for continued success in delivering innovative banking solutions and driving economic development in the region. IBRAHIM .N. PARTNERS remains leading the capital markets in the UAE and dedicated to supporting clients like Ajman Bank in achieving their strategic objectives.
About IBRAHIM .N. PARTNERS: IBRAHIM .N. PARTNERS is a leading law firm renowned for its expertise in providing comprehensive legal solutions across various sectors. The capital markets team of IBRAHIM .N. PARTNERS is regarded as the “most active capital markets team in the UAE” by leading almost all key and innovative capital markets transactions. With a commitment to excellence and a client-centric approach, the firm has a proven track record of assisting clients in achieving their goals and navigating complex legal landscapes.
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