Business | Markets
First Dubai Real Estate to raise $294m from share sale
First Dubai Real Estate Development Co. KSC., a unit of the Kuwaiti property investment company Al Mazaya Holding Co., is seeking to raise as much as 77.9 million dinars ($294.2 million) by selling stock to existing stockholders.
- Bloomberg
- Published: 13:43 June 30, 2008
Dubai: First Dubai Real Estate Development Co. KSC., a unit of the Kuwaiti property investment company Al Mazaya Holding Co., is seeking to raise as much as 77.9 million dinars ($294.2 million) by selling stock to existing stockholders.
First Dubai will sell the shares for 100 fils each and use the funds to raise its capital by more than fourfold to 100 million dinars, it said in a filing to the Kuwait Stock Exchange.
The proposal needs shareholder approval, it said.
Share this article
More from Markets
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months
