Arab Today, arab today oman\s renaissance approves 130m capital hike
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Oman\'s Renaissance approves $130m capital hike

Arab Today, arab today

Arab Today, arab today Oman\'s Renaissance approves $130m capital hike

Muscat - Arabstoday

Renaissance Services\' board has approved plans to raise Renaissance Services\' board has approved plans to raise new capital to help fund expansion, the Omani oil services company said on Tuesday. The new capital, which will be worth up to OR50m ($129.87m), will be raised through a privately-placed quasi-equity instrument open to both new and existing investors, Renaissance said in a statement to the Muscat bourse. No timing for the issue, which still requires the approval of both regulators and shareholders, was given. Bank Muscat has been appointed as financial adviser for the offering. The cash will be used for near-term expansion, through its Topaz Marine and Engineering subsidiary, in the Gulf Arab region and the Caspian Sea, as well as to strengthen Renaissance\'s balance sheet, it added. Renaissance said in November that it was looking to raise $380m in the loan market for Topaz by the end of the year to help refinance existing obligations. Topaz, which pulled a $500m London listing in March amid valuation concerns and regional unrest, uncovered fraud worth $2.9m in August. Shares of Renaissance Services are down 50.7 percent year-to-date.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oman\s renaissance approves 130m capital hike Arab Today, arab today oman\s renaissance approves 130m capital hike

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oman\s renaissance approves 130m capital hike Arab Today, arab today oman\s renaissance approves 130m capital hike

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday