The Abu Dhabi Securities Exchange announced that its Clearing, Settlement and Depository Department has listed the 500 million shares increase in the capital of Gulf Pharmaceutical Industries Company in the investors ’accounts as of today.
The market confirmed in a circular issued today that the shares were deposited into the account specified by the investors upon subscription.
The company, “Julphar” had announced earlier that the total value of the rights to subscribe for the capital increase of 500 million dirhams exceeded twice the required value.
The fundraising rights funds raised in accordance with the company’s assurances are to be used to support the implementation of its plans to grow its business and pay off existing loans and meet its business capital needs .. This investment will include product development and the strengthening of stringent quality control processes introduced in 2019.
With the support of these revenues, the company will be able to maintain a good budget that will provide it with new growth potential in the market.
Abu Dhabi Bank was the first to receive transaction management, while Maatouk Bassiouni and Ibrahim took over the legal investment role.
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