DOHA: Al Meera Consumer Goods Company (QSC) announced yesterday that it has successfully completed the rights issue subscription to increase its capital that was earlier approved during the Extra Ordinary General Assembly meeting of the company held in October 2012. The official source of the company said that the value of the offered rights shares was QR950m whereas the subscription value received reached approximately QR1.3bn, indicating an excess value received of approximately QR393m — thus giving an excess value received of around 140 percent.
Additionally, the concerned authority has earlier approved the subscription process and the refund of the excess subscription to shareholders, and in turn Al Meera Consumer Goods Company (QSC) has informed Masraf Al Rayan to take all necessary action to refund the excess amounts to the respective shareholders at the soonest possible time.
The Peninsula
