Wednesday, Dec 15, 2010
DOHA (Zawya Dow Jones)--Qatari food group Zad Holding Co. said Wednesday the subscription period for its rights issue aimed at boosting capital by 30% will run from April 3 to April 17 next year.
In a statement posted on the Qatari bourse website the company, which makes flour and pasta among other things, said the cut-off date for entitlement to the rights issue was March 31 2011.
Zad's 30% rights issue was approved by the Ministry of Business and Trade last month, according to Zawya.com.
Shares in Zad were unchanged on Wednesday at 62 Qatari riyals ($17.02).
Meanwhile, the statement added that the "board of directors has reviewed the valuation of National Food Co. and approved [Zad Holding] to proceed with the acquisition process of the company."
An initial approval was given by the board of directors for Zad to acquire a real estate company, the statement added, without giving further details.
By Alex Delmar-Morgan, Dow Jones Newswires; +974 659 9818; alex.delmar-morgan@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
15-12-10 1251GMT
