The master-developer RAK Properties has won some timely fianncial muscle, with shareholders approving a rights issue and adding Dh920 million to its capital base. This will be done through issuing 920 million shares at Dh1 each. Also, the Ras Al Khaimah government will raise its stake in the company from 5 per cent to around 34 per cent after the rights issue. #uae #rak #business #property | Gulf News
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