K. Male' | Shan Anees | 16-October-2017 | Monday 08:12 | twitter | Business | 844
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.
|1||MP Riyaz says terror charges raised to keep him out of politics|
|2||Manik mocks Naeemaatha: is it because she is a senior or a woman?|
|3||Terrorism tiral against ex-President's son-in-law Nadeem starts tomorrow|
|4||Two nominations for Maldives at World Spa Awards|
|5||Terrorism case against Riyaz and Areef: hearings scheduled for tomorrow|