Dubai, September 5, 2005: Emaar Properties PJSC, the largest real estate company by market capitalisation, today announced that its 1:1 rights issue had received enthusiastic support from shareholders, with take-up of the new shares exceeding expectations.
More than 70 per cent of subscriptions were received in cash. The remaining 30 per cent was paid for by post dated cheques.
Shareholders who subscribed for the new issue and made their payments by the deadline had the shares credited to their Dubai Financial Market account today (Monday, September 5, 2005). The issue closed on August 15, 2005.
Emaar has now allotted the full quota of shares to those investors who have paid in full. Shareholders taking advantage of the concession that allows them to pay in instalments have been credited with the number of shares they have paid for to date. However, if shareholders wish to pay the remainder of the instalments at the next due date, they will be credited with all the shares they are due.
