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FINANCIAL NEWS
Muscat Electricity Co. increases capital to USD 186.3mn
14 Feb 2016
(MENAFN) Muscat Electricity Distribution Company (MEDC) has raised its capital base to USD 186.3mn by issuing USD 185.02mn in rights shares.
Accordingly, MEDC updated its balance sheet over 2015 to permit its long-term borrowing, as per the strategic financial plan.
However, there is no relation between the company’s capital improvement program and the study on privatization.
In addition, the objectives of MEDC privatization will promote private sector share in the global building process and tom increase the value for staff and customers.
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