- Julphar launched AED 500 million rights issue at an offer price of AED 1 per share on 29th June 2020 - Total bids received from existing rightsholders stood at AED 1.14 billion on application which closed on 12th July 2020
After an inspection of Julphar facilities, the Gulf Health Council and the Pharmaceutical & Herbal Medicine Registration & Quality Control Admin, Ministry of Health, State of Kuwait has lifted the temporary suspension on the export of Julphar products to Bahrain and Kuwait
- 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.