Gulf Pharmaceutical Industries (Julphar) launches AED 500 million rights issue
- Rights issue is part of Julphar's capital restructuring to improve the capital base and debt profile. - The company will offer 500 million new shares with a nominal value of AED 1. Ras Al Khaimah, UAE; June 1, 2020: Gulf Pharmaceutical Industries PSC (Julphar), one of the largest pharmaceutical manufacturers in the Middle East and Africa, announced today the launch of its AED 500 million rights issue as the company progresses on its ambitious turnaround plan. The rights issue is set to improve the company’s capital position and debt profile and will provide the financial foundation for the successful implementation of the company’s medium-term growth strategy.