Mar 27 2006 |
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SyriaTel share surge brings cheer to Injaz Mena clients
27 March 2006
Despite the current depressed conditions in most regional stock markets, investors who bought
SyriaTel shares in a private placement arranged last September by Injaz Mena at $12 (Dh44.2) per share, saw an appreciation of over 29 per cent.
"The reason for the continued rise in SyriaTel shares is simply due to the company's strong fundamentals," said Shariq Azhar, Director-General of Injaz Mena. "We are very proud of this investment opportunity. Notwithstanding the recent collapse in many regional stock markets, we remain well-positioned to undertake transactions of significant volume and magnitude."
"Our investments hold their value despite market fluctuations because they are based on the true underlying value of sound companies."
Azhar projects an annual growth of 25 per cent in Syria Tel revenues over the next three years.
By Staff Reporter
© Gulf News 2006. All rights reserved.
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