U.A.E.'s Marka Shareholders Vote to Wind It Down After Losses
(Bloomberg) -- Shareholders of Marka, the loss-making Dubai-based retail and dining company, voted to wind it down.
Investors approved the motion at the company’s general assembly meeting on Wednesday, according to a regulatory filing. Marka’s shares have been suspended since May 2018. The company operates several retail and restaurant brands in the United Arab Emirates.
Marka raised $75 million from an initial public offering in 2014. The company has never reported a profit, according to data compiled by Bloomberg.
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