Dubai-Mubasher: DFM-listed Shariah-compliant insurer Takaful Emarat raised AED 50 million during the first tradable rights issue launched on 1 November and closed on 12 December, according to a bourse filing on Wednesday.
The rights issue was 36.51% oversubscribed with AED 68.257 Million shares fully subscribed.
The proceeds of the oversubscribed shares will be refunded to the shareholders after allocation of shares starting from 20 December, the statement said, adding that the new shares shall be listed in the DFM following receiving approval of Securities and Commodities Authority (SCA).
