Dubai – Mubasher: Dar Al Takaful Company’s rights issue, launched as part of its capital increase, is due to be tradable on the Dubai Financial Market (DFM) from Tuesday, 25 April to Monday, 8 May 2017, according to a statement.
Trading of the rights issue enables the company’s existing shareholders who will not subscribe to the new shares to sell all or part of their rights to other investors who wish to subscribe.
The rights issue’s opening price has been set at 23 fils based on the company’s adjusted share price on the market minus the new shares’ issuing price.
“The rights issue will be free-floated on its inaugural day only, while price movement will be in line with DFM’s fluctuation range of 15% up and 10% down from day two until the end of the trading period,” the company said.
Dar Al Takaful rights issue to start trading Tuesday
Dubai – Mubasher: Dar Al Takaful Company’s rights issue, launched as part of its capital increase, is due to be tradable on the Dubai Financial Market (DFM) from Tuesday, 25 April to Monday, 8 May 2017, according to a statement.
Trading of the rights issue enables the company’s existing shareholders who do not wish to subscribe to the new shares to sell all or part of their rights to other investors who do wish to subscribe.
The rights issue’s opening price has been set at 23 fils based on the company’s adjusted share price on the market minus the new shares’ issuing price.
“The rights issue will be free-floated on its inaugural day only, while price movement will be in line with DFM’s fluctuation range of 15% up and 10% down from day two until the end of the trading period,” the company said
Subscription to the company’s new shares will take place from Sunday, 30 April, to Monday, 15 May, to increase the capital to AED 150 million through the issuance of 50 million shares with an issue price of AED 1.
