Oman’s Renaissance shares hit 8-week high on investment in unit | GulfNews.com:
"Shares in Oman’s Renaissance Services surged to an eight-week high on Wednesday after the company said its unit Topaz Energy and Marine had secured a $75 million investment from Standard Chartered Private Equity (SCPE).
SCPE will inject the equity in return for a 9.8 per cent stake in the business, Renaissance said in a statement to Oman’s bourse. The funds will be used to expand Topaz’s fleet and develop its business.
Renaissance’s shares were up 5.2 per cent at 0619 GMT, reaching their highest level since June 24."
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