Dubai Parks and Resorts rights issue oversubscribed

24/05/2016 Argaam

Dubai Parks and Resorts on Tuesday said that its AED 1.68 billion rights issue was oversubscribed, with total subscription amounting to AED 2.1 billion at the end of trading on Monday.

 

The rights issue intends to raise funds for the development of Six Flags Dubai, a theme park within the Dubai Parks and Resorts destination, the company said in a statement.

 

Rights holders have until Wednesday to subscribe for new shares. After rights issue is complete, Dubai Parks and Resorts' issued share capital will stand at AED 7.99 billion.

 

Six Flags Dubai will be the fourth theme park at the Dubai Parks and Resorts destination and is expected to open in 2019.

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