Gulf Nav gets nod to extend capital increase subscription period

Dubai:

Gulf Navigation said on Wednesday it has received a regulatory nod to extend the capital increase subscription period by additional five working days till March 1.

The allotment will be done on March 7 and the refund will happen on March 8, the company said in a statement posted on Dubai Financial Market’s website.

The company posted a 7 per cent increase in gross profit last year to Dh49 million from Dh45.8 million in the year before period.