Dubai – Mubasher: Arabtec Holding approved the launch of an AED 1.5 billion rights issue as of 15 May 2017, according to a bourse filing.
The contractor intends to invite shareholders to subscribe for the capital increase on 3 May 2017.
The company set the subscription closing date on 28 May 2017.
The shares will be offered at AED 1 per each, the statement highlighted.
As a result, the company’s capital will rise from AED 4.615 billion to AED 6.115 billion.
Non-participating shareholders will be diluted up to 24.53%, the company said.
