Dubai – Mubasher: The Securities & Commodities Authority (SCA) has approved the delisting of Emaar Malls from the Dubai Financial Market (DFM) and the capital increase of Emaar Properties to prepare for the merger.
As a result of the merger, Emaar Properties will issue new shares to the shareholders of Emaar Malls and allocate 0.51 new shares for every one share in Emaar Malls, excluding those in Emaar, according to a bourse filing on Sunday.
This step will be activated after the end of Sunday's trading session.
It is noteworthy to mention that in October 2021, the ordinary general meeting (OGM) of Emaar Properties approved the proposed merger with Emaar Malls.
