Mubasher: Dubai Central Securities Depository (Dubai CSD), a subsidiary of Dubai Financial Market (DFM), on Wednesday announced executing the capital increase of DXB Entertainments (DXBE) in the electronic Dubai CSD system.
The company’s issued capital has been increased from around AED 8 billion to AED 9.43 billion, while the number of issued shares has been increased from roughly 8 billion shares to about 9.43 billion shares.
The capital hike was financed through the conversion of the convertible bonds of the company issued to Meraas Leisure and Entertainment and Meraas Holding.
In December, the Board of Directors of DXBE received a conditional cash offer from Meraas Leisure and Entertainment to acquire 100% of the issued and paid-up ordinary shares of DXBE.
Last month, the board unanimously recommended to DXBE’s shareholders to accept the offer during the company’s upcoming general assembly meeting on 9 March.