United Docks successfully completes  Rights Issue of Rs407.6 million

United Docks Ltd (UDL) has successfully completed the Rights Issue of 7,411,485 new ordinary shares of par value Rs10 each at a price of Rs55.00 per share, thus raising Rs407,631,675.

The stated capital of the company post Rights Issue will be made up of 24,255,770 ordinary shares of par value Rs10 each.

Shareholders that have subscribed to new ordinary shares of UDL pursuant to the Rights Issue and who have a CDS account will have their accounts credited at close of business on 14 April 2023.

Share certificates in respect of new ordinary shares of UDL allotted to shareholders that do not have a CDS account will be sent to them on 14 April 2023.

The new ordinary shares of UDL will start trading on the Official Market of the Stock Exchange of Mauritius on 17 April 2023.

United Docks Ltd is a leading real estate developer with the biggest portfolio of private freehold land ownership in the capital city of Mauritius.

United Docks owns around 100,000 sqm of prime freehold land in Port-Louis and is listed on the Stock Exchange of Mauritius with total assets of Rs4.4 Billion, NAV of Rs2.8 Billion and a market capitalisation Rs1.1 Billion.

United Docks Ltd operates 2 business parks in Port-Louis and is also the pioneer of Park and Ride in Mauritius with 700 parking bays.

United Docks  has a pipeline of projects with around 50,000 sqm of GBA.

Sources: Stock Exchange of Mauritius, uniteddocks.com