Dubai Parks and Resorts (DPR) announced it has successfully raised AED1.68bn from a 1.6x oversubscribed rights issue (2.5x oversubscribed on the public tranche). The new shares will be listed on the DFM following approval from the Securities and Commodities Authority (SCA) on or around 5 June. Meraas will retain a majority shareholding, of 52%, with Qatar Holding increasing its shareholding. At the conclusion of the rights issue, DPR will issue 1,678,084,962 new shares, which will increase its total issued share capital to AED7,999,912,670. None of the additional capital raised will be used to fund the existing Dubai Parks and Resorts development, expected to open in October this year. The capital raise will be used to fund the proposed Six Flags Dubai theme park is scheduled to open in 4Q19. (Company disclosure)