UAE pharma giant Julphar completes restructuring exercise
Ras Al Khaimah company cancelled 503m shares equal to accumulated losses
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Dubai: The Ras Al Khaimah based pharma company Julphar has completed its capital restructure programme, raising its share capital by Dh500 million to Dh1.15 billion. This was done through a rights issue, which was heavily subscribed.
The new shares have started trading from today.
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The capital reduction was done through share cancellation equivalent to the accumulated losses of Dh503.27 million as of end 2019.
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