"In what has been described as a ‘pivotal moment’ for Arabtec Holding PJSC (“Arabtec” or the “Company”), the Company announced the successful conclusion of its Rights Issue, which raised AED2.4 billion and was nearly 30% oversubscribed by shareholders (“Rights Issue”).
Arabtec, a leading MENA construction company specialising in complex projects, will use the proceeds from the Rights Issue to advance the implementation of the Company’s growth strategy announced earlier in 2013.
Hasan Abdullah Ismaik, Managing Director and CEO of Arabtec, commented: “Our shareholders have given Arabtec the strongest vote of confidence in the Company, its people and in our expansion plans. Our Company and employees thank them for making the Rights Issue the resounding success it is and we remain committed to enhancing shareholder value in the short and medium term. We would also like to thank Emirates Securities and Commodities Authority and the Dubai Financial Market for their support during the Rights Issue.”"
'via Blog this'
No comments:
Post a Comment