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FINANCIAL NEWS
Arabtec to increase capital by USD1.8b
14 Apr 2013
(MENAFN) Arabtec reported that shareholders voted for the increase of the company’s capital by USD1.8 billion, reported Reuters.
The capital increase comes under the company’s plan of future regional expansion.
Previous statements of the developer revealed that the funds would be raised through a rights issue and debt issuances.
It is worth mentioning that Arabtec is a UAE-based developer partially owned by Abu Dhabi state fund Aabar Investments.
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