Bank Of Sharjah P.J.S.C. announced a private placement of 800,000,000 common shares at an issue price of AED 1 per share, for gross proceeds of AED 800,000,000 through capital increase on May 4, 2023. The transaction will included participation from returning investor Sharjah Asset Management. The shares will issued in the transaction at par value.

After the completion of transaction, investor shareholding in the company will be change from 17.16% to approximately 40%. The transaction has been approved in annual general meeting of shareholders, by the Central Bank of the United Arab Emirates, and the Securities and Commodities Authority. After the completion of transaction, the company total capital will be AED 3,000,000,000.