Articles
Companies

Home / NEWS / GGICO obtains regulatory approval for capital reduction

GGICO obtains regulatory approval for capital reduction

by Jumana Abdel-Razzaq on Jul 3, 2018


The company received approval for its capital restructuring from its stakeholders in late April.
The company received approval for its capital restructuring from its stakeholders in late April.

RELATED ARTICLES: GGICO to start hand over of Topaz Residences by year end | GGICO to launch budget flats at Dubai Sports City | GGICO sells $16.3mn plot in Um Al Nahed

Gulf General Investment Co. (GGICO), a Dubai-listed investment firm, has obtained regulatory approval for its capital restructuring programme. 

The regulatory go-ahead will see the company cut its capital to $160m (AED586.7m) from $487m (AED1.79bn) on July 15, GGICO said in a statement to the Dubai Financial Market on Tuesday.

READ: GGICO to start hand over of Topaz Residences by year end

The company received approval for its capital restructuring from its stakeholders in late April, the statement added.

The last day of trading before restatement will be Thursday July 12, with the number of tradable shares set to be reduced the following Sunday.

 



Advertisement




Articles
Companies