MTCC decides to go non-dilutive; announces date to begin selling shares

The Maldives Transport and Contracting Company (MTCC) has said that the company will be selling shares later this month via rights issue.

MTCC, which announced that it would be a public trading company in late September, will be dividing unsold shares into 10 and selling them to existing shares holders.

The company said that only shareholders who have held shares until 9th October are eligible to buy more. The company will begin selling shares on 19th October until 3rd December.

Earlier this month, MTCC revealed that they would be selling shares at MVR 62.

In 2016, MTCC had placed dividends at MVR 24 per share. The dividends were set after a vote from 99 percent of the company’s shareholders.

MTCC had made garnered 1.3 billion in 2016, with a profit of 115.3 million. However, this amount is 26 percent lower than that of 2015.

The Maldives Transport and Contracting Company (MTCC) has said that the company will be selling shares later this month via rights issue.

MTCC, which announced that it would be a public trading company in late September, will be dividing unsold shares into 10 and selling them to existing shares holders.

The company said that only shareholders who have held shares until 9th October are eligible to buy more. The company will begin selling shares on 19th October until 3rd December.

Earlier this month, MTCC revealed that they would be selling shares at MVR 62.

In 2016, MTCC had placed dividends at MVR 24 per share. The dividends were set after a vote from 99 percent of the company’s shareholders.

MTCC had made garnered 1.3 billion in 2016, with a profit of 115.3 million. However, this amount is 26 percent lower than that of 2015.

MTCC decides to go non-dilutive; announces date to begin selling shares

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MTCC decides to go non-dilutive; announces date to begin selling shares

Comments

MTCC to become a public trading company

MTCC sets dividends at MVR 24

MTCC earnings: profits increase to record highs

BML announces AGM for 23rd August

Maldive Gas announces opening times for Ramadan

On This Day

Maziya triumphs over TC in second match

First Couple departs for Umrah pilgrimage

First Couple inaugurates TfG's Sports Fitness and Rehabilitation Center

Fisherman suffers injuries from shark attack, after falling overboard

Will proceed with intelligence audit for national security forces: President

2,000 Maldivians will perform this year\'s Hajj pilgrimage, assures ministry

Maldives allows businessman to use local bank to import money without restriction