Arabtec Board Approves Bonus Share Offer to Double Capital

By Shaji Mathew

Nov. 30 (Bloomberg) -- Arabtec Holding Co., the construction company building the world’s tallest tower in Dubai, plans to offer one bonus share for each existing share to double its capital.

Arabtec board approved plans to increase the Dubai-based company’s capital to 1.2 billion dirhams ($326 million) from 598 million dirhams, the company said today in a statement on the Dubai bourse Web site.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net