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Zain raises $4.49bn in funding
- Kuwait: Sunday, September 21 - 2008 at 09:07
Kuwait's telecoms giant Zain has announced that it has raised $4.49bn of new capital in a rights issue. The offering, the largest in Kuwait's history, was 99% subscribed. The fund-raising move, which was open only to existing shareholders, was successful despite unfavourable financial conditions globally and locally, the company added in a statement.
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Jeff Florian, Senior ReporterSunday, September 21 - 2008 at 09:07 UAE local time (GMT+4)
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