Mekdam Holding is eyeing to raise as much as QR75.3mn by way of a rights issue as part of ways to shore up its capital base.
The company is proposing to issue 30mn ordinary shares at QR2.51 a piece (including QR1.51 premium), with as much as QR30mn going towards increasing the capital base. After the rights issue, the capital base would increase by 40% from the existing QR75mn.
A board proposal regarding this would be recommended to extraordinary general assembly to seek shareholders' approval.
The shareholder will be granted the right to subscribe to shares at the rate of two shares for every five shares owned, in accordance with Commercial Companies Law No. 11 of 2015 amended by Law No. 8 of 2021 and the Offering and Listing of Securities Regulations in Financial Markets and the Rights Issue Trading System, issued by the Qatar Financial Markets Authority (QFMA).
In this regard, the Mekdam Holding Group will coordinate with the QFMA, the Qatar Stock Exchange, the Qatar Central Securities Depository Company and the relevant authorities to take the necessary measures after taking into account all relevant legislation, laws and instructions.
