Dubai Parks rights issue oversubscribed

Dubai Parks & Resorts, which is developing a theme park in Jebel Ali, said today that its AED 1.68bn rights issue was oversubscribed 1.25 times.

The offering is due to close in two days.

Total subscription on 23 May was AED 2.1bn, the company said in a statement.

The rights issue will mainly finance Six Flags Dubai, the fourth theme park within the Dubai Parks & Resorts destination. Rights holders have until 25 May to exercise their rights to.