Jordan's Saraya Aqaba plans to raise $300m capital
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Jordan's Saraya Aqaba plans to raise $300m capital

Jordan's Saraya Aqaba plans to raise $300m capital

Jordan-headquartered Saraya Aqaba has approved a plan to raise $300m in new equity from shareholders to enable the firm to complete a $1bn Red Sea resort development, Reuters has reported. The move would raise the firm's equity capital to $773m. So far Saraya Aqaba has drawn mainly on its own JD335m ($472.5m) capital to finance the project. The development's contractor is Saudi Oger.

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