Mubasher: Mena Real Estate said that the board meeting on 2 March showed primary intention to acquire Rasmal Holding Co, according to a bourse statement issued on Sunday.
The acquisition will be in return for raising Mena’s capital through new shares, which will be allocated for Rasmal’s shareholders.
Mena clarified that a reverse takeover may result if the percentage of Rasmal’s shareholders subscribed in the capital hike is above 50% of Mena’s capital.
