Zain Saudi contemplates capital increase

19 May 2010

Saad al-Barrak, CEO of Zain Saudi has said the company is considering a capital increase that it aims to complete in June, Bloomberg has reported. Zain Saudi Arabia obtained a waiver from banks in January after it failed to meet commitments on an Islamic loan facility, or Murabahah, and was in talks with lenders to restructure payments.

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