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Projects for Tourism Development to raise its capital

Projects for Tourism Development to raise its capital
Photo Credit: Arabianeye-Reuters
Projects Development
JPTD
-4.38% 1.09 -0.05


Jordan Projects for Tourism Development announced in a bourse filing to the Amman Stock Exchange (ASE) that no one subscribed to shares of increasing the Company’s capital by JOD 10 million


The Company’s Ordinary General Meeting had decided on December 2012 to increase the capital by JOD 10 million at JOD 1 par value to reach JOD 31.5 million through subscription.


The rights issue will be partially covered through subscribing to 9 million shares at JOD 1 par value plus JOD 2.3 per share, totaling JOD 30 million, according to the statement.


Abu Jaber and Brothers Company will subscribe to 6.75 million shares worth JOD 22.25 million, while Orascom Development Holding will subscribe to 2.250 million shares at JOD 7.5 million. 

 

It is worth highlighting that the Company’s capital amounts to JOD 21.5 million, distributed on 21.5 million shares at JOD 1 par value.