Dubai-Mubasher: Dubai Parks and Resorts will open the subscription on Thursday for the AED 1.68 billion rights issue, according to a bourse statement.
The holders of rights can now subscribe for new shares at the issue price of AED 1 per share.
The company’s shareholders previously gave the approval to increase the capital through a rights issue.
As a result, Dubai Parks’ capital will rise to AED 7.99 billion.
The capital raise will be used to fund the developer’s Six Flags theme park and future business development projects, in addition to paying for issue-related expenses.
The general index rose 1.5% to AED 1.32, after generating AED 11.55 million.
