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PRICO approved raising its capital from JD 48.57 million to JD63.76 million

2011-12-18

Palestine Real Estate Investment Company approved in the general assembly"s extraordinary meeting that was held on Sunday 18/12/2011, raising its capital from JD 48,575,974 to JD63, 762,486 through allocating 13,026,882 shares to Palestine Development and Investment PADICO based on one Jordanian Dinar as a par value per share, and 2,159,630 shares to Al-Mashrbyeh for Real Estate Investment based on one Jordanian Dinar as a par value per share. According to the minutes of the general assembly meeting, the proceeds of capital raising will be provided to pay the debt resulting from the purchase of shares in some companies operating in the real estate sector which PRICO had purchased.