UAE pharma giant Julphar completes restructuring exercise
Ras Al Khaimah company cancelled 503m shares equal to accumulated losses
Image Credit: Gulf News Archive
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.
Earlier, Julphar reduced its issued share capital by Dh503.27 million to Dh655.27 million. This was done by cancelling 503.27 million shares.
The capital reduction was done through share cancellation equivalent to the accumulated losses of Dh503.27 million as of end 2019.