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08-05-14

Dubai's Dar Al Takaful to raise capital by 50 percent

(MENAFN) The Dubai-listed Dar Al Takaful plans to boost paid-up capital by 50 percent to USD40.83 million through right issues, according to the Emirates 24/7. Rights shares will be offered to shareholders who own shares at the close of trading on Wednesday, May 14, 2014. The company's net profit was estimated at USD0. 544million in the first quarter of 2014 compared to USD267,52 net loss in the same quarter last year. Its share plunged nearly 3.5 percent at the opening of the trade today.