The $54.4 million rights issue planned by Oasis International Leasing, the Abu Dhabi-based leasing company, has now received institutional support, the company's annual general meeting has be informed.
The issue, planned, according to company executives when 'the business climate allows' has now received commitments of $29 million by the Mubadala Development Company, $16 million from Abu Dhabi Investment Company and $10 million by BAE Systems.
The news comes in the recent wake of Oasis International Leasing's posting of a $1.2 million pre-tax net profit for 2003, which consolidated the company's return to profitability.
Oasis International Leasing received all the necessary authorizations and approval to increase the company's share capital through a rights issue and to increase its ceiling for overseas ownership to 49 percent in 2002. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
