Ministry okays JFI rights issue
BY SADIQ A. SALAM

5 March 2006

RAS AL KHAIMAH — The Ministry of Economy and Planning (MEP) has given its go-ahead to the RAK-based Julphar Pharmaceutical Industries (JFI) for its Dh.1 billion rights issue.

This announcement came during the meeting of the JFI Board of Directors meeting recently. The company will issue new 537,670,000 shares at the rate of Dh. 2.5 per share (Dh.1 per value and Dh.1.5 premium).   The payment would be received in three equal instalments, the first on or before May 10, and the second on or before August 10 and final one on or before November 10, 2006.