Dubai - Mubsher: Shuaa Capital announced that it was selected as the lead manager and expert for Dar Al Takaful's proposed issuance, according to a press release.

Dar Al Takaful recently announced strategies to elevate AED 50 million through legal rights issuance.

As per the statement the company will issue 50 million new shares at the nominal value of AED 1 per share.

All of the company’s investors holding shares at the close of trade on 20 April will be qualified for the Rights.

Each shareholder working out their legal rights on the qualification date will certainly obtain one right for each two shares held, the statement added.

The chairman of Shuaa Capital, Jassim Alseddiqi, said that Dar Al Takaful's choice of Shuaa to handle this mandate attests his company's solid start to 2017.