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Gulfa's capital hike subscription coverage exceeds 100%

Gulfa's capital hike subscription coverage exceeds 100%
The company is raising its capital to AED 40 million
Gulfa
GULFA
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Dubai – Mubasher: The subscription to Gulfa Mineral Water and Processing Industries Company's issued capital rise was covered by 100.18%.

On 9 July 2020, the subscription period, which was announced on 28 June, was closed for the shareholders eligible to subscribe for capital increase share, according to a recent press release.

The company is raising its capital from AED 30 million to AED 40 million by issuing 10 million shares at a nominal value of AED 1 per share. 

It is noteworthy to mention that the opening price of the subscription right was set at AED 14.1, based on the company’s adjusted share price on the market minus the shares' issuing price.