Dubai – Mubasher: The subscription in Gulf Navigation Holding’s right offering to increase its capital has been extended to 1 March 2018, the Dubai Financial Market (DFM) announced on Wednesday.

The subscription began on 11 February to increase the DFM-listed company's capital by 81% to AED 1 billion from AED 551.67 million and was scheduled to end by 22 February.

The UAE-based company posted a 7% increase in its gross profit during 2017, registering AED 49 million, compared to AED 45.8 million in 2016.