Mubasher: Jordan Masaken for Land and Industrial Development Projects (Masaken Capital) posted JOD 49,080 ($69,000) in net profit for the first nine months of 2015, versus JOD 73,460 ($103,270) loss suffered in the same period a year ago.
The company also cut its losses for the first half of 2015 by 83.71% to JOD 5,920 ($8,328).
Masaken said earlier its board of directors proposed a capital raise to JOD 700 million ($1 billion), or 700 million shares.
The proposal will be discussed in the company’s extraordinary general meeting scheduled for 7 November.
The company’s capital will be raised by JOD 687.76 million (687.76 million shares) from JOD 12.24 million. The capital increase will be in cash and in kind.
