Marka to reduce issued capital

Dubai: Marka, the UAE based retail and dining operator said on Sunday it plans to reduce the issued share capital.

The company said its general assembly has approved to reduce its issued share capital to Dh49 million from the earlier Dh500 million by cancelling shares of 450 million shares.

Marka shares, which have been illiquid on the Dubai Financial Market, was at Dh0.28 with a market capitalisation of Dh137 million.