Arabtec concludes successful rights issue - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"Arabtec Holding PJSC, a leading MENA construction company specialising in complex projects, today announces the successful allotment of shares for its Rights Issue, which raised AED2.4 billion.
The Company issued 1.56 billion new shares at AED1.50 per share and the Rights Issue was nearly 30% oversubscribed by shareholders. Arabtec will use the proceeds from the Rights Issue to advance the implementation of its growth strategy announced earlier in 2013.
The newly allotted shares will start trading on Sunday 28 July, and the excess funds and interest have been returned to subscribed shareholders."
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