Dubai: The theme park operator DXB Entertainments has now accumulated losses of about Dh8.16 billion.
But in terms of accumulated losses to capital ratio, the proprietor of Dubai Parks and Resorts has got some help. As against 98%, it is presently at 13% after the change of the organization’s convertible bonds into new offers. The current given share capital is Dh62.82 billion.
In addition, the senior debt that DXB Entertainments was conveying has been acquired by Meraas, the Dubai master developer that is purchasing up the organization in full. It was a year ago that Meraas declared it was taking the action, as there were not many choices left for DXB Entertainments to deal with its debt load.
Meraas as of now has raised its stake to more than 90% and it won’t be long until it purchases up the rest. Following this, DXB Entertainments’ stock will be delisted from DFM.