Dubai-Mubasher: Dubai Parks and Resorts said its AED 1.68 billion rights issue was 64% covered on the first day of subscription, 12 May.
The company exceeded AED 1 billion in confirmed subscriptions, according to a bourse statement.
Rights holders can subscribe for new shares at the issue price of AED 1 per share till 25 May, the statement said, adding that they have until 18 May to trade their rights on Dubai bourse.
The capital raise will be used to finance the developer’s Six Flags theme park.
Dubai Parks’ stock rose 0.7% to AED 1.29 after generating AED 151,000 from the exchange of 116,500 shares.
