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Jazeera Airways closes USD149m rights issue

21-Jan-2013 2:36 PM

Jazeera Airways Group announced (20-Jan-2013) the successful closing of its rights issue of 178 million shares, effectively raising the company's capital by 74% to KWD42 million (USD150 million). The rights issue was oversubscribed 2.25 times and the additional funds will not be required. Jazeera Airways Group chairman Marwan Boodai said, "The oversubscription was one of the most successful rights issues in Kuwait in recent years, breaking the $150m barrier. This result reflects a clear investor appetite for being part of our company's success story and statement of confidence in our management team." [more - original PR]