Sheikh Fawaz Bashraheel, Chairman of Tejoori Limited said:
"Due to the enthusiasm of key strategic institutional partners keen to join the list of founding shareholders, the Board of Tejoori has agreed that the closing date should be extended to November 15 in order to allow for these institutions to meet regulatory requirements.
Tejoori, which will operate out of Dubai, is to be registered in Guernsey prior to listing on the AIM. Prominent Middle East investors have been invited to take part in the initial capital raising.
Added Sheikh Fawaz: "We had planned to raise USD 100 million with a minimum launch capital of USD 65 million via private placements prior to our listing on the London Exchange, but fully expect to exceed that amount by many times. We intend to be flexible in our investments policy, so it makes sense to be flexible enough to ensure that such key institutions are included, as they will play a significant role in Tejoori's future expansion plans."
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Posted by Lara Lynn Golden, News Editor
