Barbeque Nation Hospitality Limited has announced the conversion of a loan provided to its wholly owned subsidiary, Barbeque Nation MENA Holding Limited, into equity shares. This strategic move resulted in the allotment of 109,457 new equity shares of AED 100 each to Barbeque Nation, further expanding its shareholding in Barbeque MENA from 159,425 shares to 268,882 shares, maintaining 100% ownership.
The conversion, which received regulatory approval from the Jebel Ali Free Zone Authority (JAFZA) on September 30, 2024, is part of Barbeque Nation’s efforts to bolster the financial position of Barbeque MENA as it continues its expansion in the international restaurant market. Barbeque MENA was established to oversee and drive the global growth of the Barbeque Nation brand.
Barbeque MENA, headquartered in Dubai, primarily invests in companies operating in the restaurant and food service industries. The subsidiary reported a turnover of AED 2,088,193 for FY 2023-24 and has been steadily expanding its footprint in international markets.
