ID :
203582
Thu, 08/25/2011 - 23:07
Auther :
Shortlink :
http://m.oananews.org//node/203582
The shortlink copeid
United Development Seeks 50% Increase in Capital
Doha, August 25 (QNA) - United Development Company (UDC) has recommended to the Extraordinary General Assembly to approve a 50% increase of the company's capital, amounting to QR 800, 437,500, distributed over 80,437,500 shares.
The shares are to be offered for public subscription giving priority to existing shareholders. The share is offered at a par value of 10 Qatari Riyals, plus a premium value to be determined in accordance with the share's market price at the time of issuance, the company announced in a statement issued by Qatar Exchange website.
The remaining shares are to be offered to public subscription at a price that the Board of Directors deems appropriate.
The proposed increase recommended in items 1 to 3 is subject to approval of the Ministry of Business and Trade, and to satisfaction of all related legal proceedings.
United Development Company PSC (UDC) is one of Qatar's leading private sector shareholding companies. UDC's mission is to identify and invest in long-term projects contributing to Qatar's growth and providing good shareholder value. The company was established in 1999 and listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 1.609 billion, total assets of QR 11.008 billion as of 31 March 2011 and a market capitalization of check current value on Qatar Exchange.
The shares are to be offered for public subscription giving priority to existing shareholders. The share is offered at a par value of 10 Qatari Riyals, plus a premium value to be determined in accordance with the share's market price at the time of issuance, the company announced in a statement issued by Qatar Exchange website.
The remaining shares are to be offered to public subscription at a price that the Board of Directors deems appropriate.
The proposed increase recommended in items 1 to 3 is subject to approval of the Ministry of Business and Trade, and to satisfaction of all related legal proceedings.
United Development Company PSC (UDC) is one of Qatar's leading private sector shareholding companies. UDC's mission is to identify and invest in long-term projects contributing to Qatar's growth and providing good shareholder value. The company was established in 1999 and listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 1.609 billion, total assets of QR 11.008 billion as of 31 March 2011 and a market capitalization of check current value on Qatar Exchange.
