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Shareholders of Dubai-listed Agility Public Warehousing Company have approved the proposal to increase the firm’s authorised capital to 350 million dinars ($1.14 billion).
The extraordinary general assembly meeting also agreed to increase the firm's issued and paid-up capital to 267.6 million dinars, according to a disclosure on the Dubai Financial Market (DFM).
One of the biggest logistics providers in the Middle East, Agility had announced plans this year to fully acquire UK-based John Menzies for £571 million ($720 million). The acquisition would create an “industry powerhouse in aviation services”, the company had said.
During the first three months of 2022, Agility posted a net profit of 12.8 million dinars, up by 1 percent from 12.6 million dinars in the previous year.
(Writing by Cleofe Maceda; editing by Daniel Luiz)
