Du completes Rights Issue subscriptions

23 June 2010

Telecoms services provider Du has raised Dhs1bn ($272.3m) through a Rights Issue to fund its growth plan, Reuters has reported. The capital will be used to transform the company from a high growth early stage venture to a more mature company with efficient management of future funding requirements, Du said in a statement. The founding shareholders took up their rights to to their portion of the Rights Issue in full.

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