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Rotana looking at floatation
- United Arab Emirates: Sunday, May 28 - 2006 at 10:46
Shuaa Capital has closed the 40% private placement transaction undertaken by Rotana Hotels. Proceeds from the capital increase will go towards future investments, specifically investments in key hotel properties throughout the Middle East. Selim El Zyr, President and CEO of Rotana Hotels, said that Rotana envisages tapping into the local markets through a public floatation within the next two to three years, subject to favorable market conditions.
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Jonathan Sheikh-Miller, Deputy EditorSunday, May 28 - 2006 at 10:46 UAE local time (GMT+4)
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