Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Anan Investment Holding, a company listed on the Growth Market of the Abu Dhabi Securities Exchange (ADX), announced plans to increase its share capital by inviting existing shareholders to subscribe to new shares.
The company said its General Assembly approved a capital increase of up to Dh350 million through the issuance of up to 350 million new cash shares at par value, offered exclusively to shareholders in proportion to their existing holdings as recorded in the ADX shareholders’ register on May 22, 2026.
According to the company, the proceeds from the capital increase will be used to strengthen its capital structure, restructure outstanding debts, enhance working capital, and support operations and future growth.
The proposed capital increase will raise Anan’s issued share capital from Dh2.312 billion to an amount not exceeding Dh2.662 billion through the issue of up to 350 million new shares.
The new shares will be issued at Dh1 per share at par value. The company said the issue price represents a discount of 38.3% to the closing share price of Anan shares on ADX as of May 14, 2026.
The share price traded at Dh1.54 when the market closed on Friday. It has market capitalisation of Dh3.56 billion and is one of heavily traded stocks on the Growth Market of ADX.
Subscription for the new shares will open on June 1, 2026 and close on June 12, 2026. Each shareholder will be entitled to subscribe for up to 0.1513 new shares for every existing share held.
According to details published in the company’s FAQs, the capital increase is open only to shareholders registered as of the eligibility date of May 22, 2026. The company clarified that the subscription rights are non-transferable and cannot be traded. Shareholders who choose not to participate in the capital increase will see their ownership percentage diluted after the issuance of new shares.
The FAQs also stated that any unsubscribed shares may be allocated to other shareholders or investors in accordance with applicable regulations and subject to company approval. Fractional entitlements arising from the allocation process will be rounded down to the nearest whole share.
Emirates NBD Capital has been appointed as Lead Manager for the transaction, while Emirates NBD Bank has been appointed Lead Receiving Bank and First Abu Dhabi Bank as Co-Lead Receiving Bank.
The company described the capital increase as a strategic initiative aimed at strengthening its financial position and supporting sustainable long-term growth for shareholders.
Anan is an Abu Dhabi-based investment and holding company established in 2008. Its operations focus on development, investment and asset management of large-scale master-planned communities. The company said it is currently developing a flagship project called Arabian Hills, and is also assessing other development projects in the UAE, Saudi Arabia, Morocco, and Iraq.
