Dubai – Mubasher: Drake and Scull International’s (DSI) ordinary general meeting has approved the inclusion of a new item in its agenda concerning the increase of the company’s capital by AED 500 million.
The capital increase will be executed through issuing new shares with a par value of AED 1.25 a share after obtaining the approval of the UAE’s Securities and Commodities Authority (SCA), according to a bourse statement released on Tuesday.
The new item also included another option for the planned capital increase, which is issuing convertible bonds that can be converted into shares in DSI’s capital with a maximum value of AED 1 billion, the regional provider of engineering and construction services.
The matter will be referred to the UAE-based developer’s board to further study it.
