Arabtec Board Nods to Capital Raise

Arabtec Board Nods to Capital Raise

Dubai’s developer Arabtec Holding’s BoD approved on Sunday, April 18, the increase of its capital by AED 1.5 bn, Invest-Gate reports.

The company will increase its share capital by AED 1.5 bn from AED 4.6 bn to AED 6.1 bn through the issuance of 1.5 bn shares at AED 1 per share.

The new shares are expected to be listed on Dubai’s bourse and begin trading today, June 21, subject to regulatory approval.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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