Al Mal Capital REIT Plans AED 300M Capital Increase
Al Mal Capital REIT is set to increase its capital by AED 300 million, inviting unit holders to a General Assembly meeting for approval.
Summary
Al Mal Capital REIT intends to raise its capital by AED 300 million through a public offering, pending approval from unit holders and the Securities and Commodities Authority.
In a strategic move to bolster its financial standing and expand its investment capabilities, Al Mal Capital REIT has announced plans to increase its issued share capital by AED 300 million. The proposal, which is subject to approval from the Securities and Commodities Authority (SCA), will be presented to unit holders at the upcoming General Assembly meeting scheduled for May 12, 2025.
The proposed capital increase will be executed through the issuance of up to 300 million new units, each priced at AED 1.1. This price includes a nominal value of AED 1.0 and an issue premium of AED 0.1 per unit. Subscribers will also incur an issuance fee of 2.5 fils per unit, covering professional expenses related to the capital increase.
Al Mal Capital REIT, managed by Al Mal Capital PSC, aims to enhance its asset base and improve liquidity through this capital increase. The additional funds are expected to support the REIT's investment strategy, allowing it to pursue lucrative opportunities in the real estate market.
The announcement of the capital increase is a significant development for Dubai Financial Market PJSC, underlining its commitment to growth and value creation for its stakeholders. The move aligns with the company's strategy to capitalize on the burgeoning real estate sector in the UAE, which continues to attract substantial investor interest.
Given the strategic importance of this capital increase and the potential for enhanced returns, investors might consider holding their positions in Al Mal Capital REIT. The REIT's focus on acquiring high-quality assets and its proactive management approach could yield favorable outcomes in the long term.
In conclusion, Al Mal Capital REIT's decision to raise additional capital is a forward-looking step towards strengthening its market position. Investors are encouraged to participate in the General Assembly meeting and consider the potential benefits of the proposed capital increase.
Source
Summary
Al Mal Capital PSC, acting as the Fund Manager of Al Mal Capital REIT, invites all unitholders to attend the General Assembly meeting of AMCREIT on May 12, 2025, at 1:00 PM. The meeting will be held at Al Mal Capital's head office in Dubai and can be attended in person or remotely. The agenda includes a special resolution to approve the Fund Manager’s recommendation to increase the Fund's issued share capital from AED 513,889,872 by up to AED 300,000,000. This will be achieved through the issuance of up to 300,000,000 new units at an issue price of AED 1.1 per new unit, inclusive of a premium. Subscribers will incur an issuance fee of 2.5 fils per unit. The announcement regarding the subscription details will be published at least twenty days before the subscription start date, pending approval from unitholders.
