Emaar EC eyes 33% capital hike as it looks to boost liquidity ...United Arab Emirates

Emaar EC, the master developer behind King Abdullah Economic City (KAEC) in Saudi Arabia, has said that its board of directors has recommended a 33% increase in its capital, taking the total from $2.26 billion to $3.01 billion. In its filing to the Saudi Tadawul, the developer explained that the capital hike will be effected through settlement of the $754.5 million debt it owes to the Public Investment Fund (PIC). It added that the move is aimed at boosting the company’s liquidity and credit position in order to provide greater solvency in relation to its financial obligations, and to help improve the company’s ability to achieve its goals. The approval plan will be put to a shareholders’ vo

Hence then, the article about emaar ec eyes 33 capital hike as it looks to boost liquidity was published today ( Tuesday 07/09/2021 - 11:45 AM ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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