UAE- du completes $272m rights issue

22 Jun 2010

(MENAFN) Dubai-based Emirates Integrated Telecommunications Co. (du) announced that it has successfully completed a rights issue that raised $272 million, Gulf News reported.

The rights issue was oversubscribed by public shareholders and will be used to finance the company?s growth plans, Du said in a statement to the Dubai bourse.

The number of Du shares will increase to 4,571,428,571 and trading in them is expected to start on or around June 27, it said in the statement.

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