Dubai – Mubasher: Maple Invest Co has acquired 15.6% of the issued and paid-up share capital in Damac Properties during the offer period by purchasing 943.9 million shares in Damac at a price of AED 1.4 per share.

Damac has received from Maple Invest the initial results of the partial acquisition offer to acquire shares in Damac, subject to final confirmation working with the receiving agent and Dubai Central Securities Depository (Dubai CSD), according to a bourse filing on Sunday.

The ownership of Maple will increase to 21.61% of Damac’s share capital, and the consolidated ownership of the ultimate offeror and the associated group members will become 95.537% of Damac's share capital.

Previously, Maple received the acceptance and transfer forms from Damac's shareholders regarding 91.228 million shares, accounting for 1.508% of the issued and paid-up share capital.