Ezdan ups capital prior to merger

Qatari developer, Ezdan Real Estate Co. has announced that it will be increasing its capital to QR26.52bn, as a prelude to merging with privately-held Group of International Housing Co. (GIHC), the Gulf Times has reported. The company's capital stood at QR4.57bn as on September 30, 2009. "The new share capital for Ezdan will be QR26.52bn distributed among 2.65bn shares. For each existing share, the shareholders will receive 2.15 additional shares," the company said.