Dubai’s Dar Al Takaful to raise capital by 50% with rights issue
The Dubai-listed Dar Al Takaful will raise paid-up capital by 50 per cent, or Dh50 million, to Dh150 million through right issues, plunging its shares by nearly 3.5 per cent in the early morning trade of May 8. Rights shares will be offered to shareholders who own shares at the close of trading on Wednesday, May 14, 2014. The right issue will be issued at the par value of Dh1 per share and one ordinary share for every two shares. However, any surplus shares will be allocated to subscribers from shareholders or non-shareholders on a pro rata basis. The Islamic insurance company earlier this year signed a deal with Daman Investments to manage it investment account.
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