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Al Madar plans to raise stake in Dar Al Thuraya

Al Madar plans to raise stake in Dar Al Thuraya
Al Madar is interested to purchase a 3.17%-stake in Dar Al Thuraya's capital
MADAR
MADAR`R
0.96% 105.00 1.00
THURAYA
THURAYA`R
1.67% 122.00 2.00

Mubasher: Dar Al Thuraya Real Estate Company on Thursday announced that Al Madar Finance and Investment Company has expressed interest to buy an additional stake of 3.17% in its capital.   

The proposed stake amounts to 4.55 million shares, according to a stock exchange statement on Thursday.

The trading limit shall range between 2% and 3%, while the allowed trading period started as of today until 30 June 2020.  

It is worth noting that Al Madar holds a majority stake of 85.6% in Al Thuraya, while Investment Dar Bank owns 5.1%.