Dubai’s developer Arabtec Holding is to hold its BoD meeting on June 19 to discuss updates on its recapitalization program, Invest-Gate reports.

The BoD will also discuss its business operations update and any other business, according to a bourse filing.

Arabtec has previously announced the proposed dates for completing the capital reduction process, the final step in the recapitalization programme to strengthen its financial position.

The closing date of the subscription period was set at May 28, 2017, while the latest date of allocation of the new shares and refund was on June 5 and the listing of the new shares on June 8.