Rasmala completes private placement

by Reuters Sunday, 27 May 2007

Dubai-based investment firm Rasmala Investments said on Saturday it had doubled its capital to 370 million dirhams ($100.8 million) through a private placement. Ten investors from Saudi Arabia, Abu Dhabi, Dubai and Oman took part in the private placement, Rasmala said in a statement.

Related Stories

Rasmala Chief Executive Ali Shihabi said in December the firm would delay an initial public offering planned for the end of 2006, until listings on the Dubai International Financial Exchange gathered momentum after a Gulf Arab stock market crash.
Deutsche Bank raised its stake in Rasmala to 18 % from 11 % in the private placement, making it the single largest shareholder in the firm, Rasmala said.
The firm is involved in asset management, investment banking and brokerage.



Search Property (2941 listed)



Enter a Development, City, Real Estate Agent or Developer name
Property Type
Added to Site
Price Range
to
Bedrooms
Area (in sqft)
to
to

Quick Links(Residental)