Dubai – Mubasher: Drake & Scull International (DSI) on Wednesday said it obtained the regulatory approvals of capital decrease and listing the new shares.
On 9 September, the company obtained the shareholders’ approval to restructure the company through capital reduction to AED 571 million from AED 2.3 billion to take place on Monday, 2 October.
DSI stated that it obtained another approval of capital rise by AED 500 million through issue of 500 million shares for the new strategic shareholder, Tabarak Investment.
Listing the 500 million shares will be completed on Sunday, 1 October after the end of trading session, and the firm’s capital will rise to AED 1.07 billion from AED 571 million.
