DUBAI: Dubai contractor Arabtec Holding said on Monday that its 2.4 billion dirham ($653 million) rights issue was nearly 30 percent oversubscribed.
The capital call, which saw 1.56 billion new shares offered at 1.5 dirhams each, had its offer period extended by two weeks after the company said shareholders had requested more time to participate.
Under the revised timetable, the offer period closed last Thursday. The new shares will be allotted and surplus funds returned to investors in coming weeks, Arabtec added in Monday's bourse filing. (Reuters)
