The Securities and Commodities Authority (SCA) has announced its approval of listing stocks from Eshraq Properties’ capital increase, amounting to 600 million shares. The stocks are to be listed on the Abu Dhabi Securities Exchange (ADX) in accordance with market regulations.

Eshraq had announced a rights issue subscription for a capital increase for the Company’s registered shareholders. The rights issue began November 9 and ended November 20.

In its statement to the ADX, Eshraq had said that it will raise its capital from AED 1.725 billion to AED 2.325 billion, an increase of AED 600 million divided on 600 million shares at par value AED 1 per share. The capital increase represented a 34.78% capital hike.