11 July 2012
MUSCAT -- The much awaited rights issue of Renaissance Services SAOG Mandatory Convertible Bonds (MCBs) opened yesterday for subscription. The Company is offering 423,141,678 mandatory convertible bonds worth RO 43,160,451 at an issue price of RO 0.102 each on rights basis.
The proposed capital raise will strengthen the company's balance sheet and will also provide the required growth capital for investments in its core businesses.The company's Marine and Contract services businesses have grown significantly over the last couple of years, and offer tremendous growth potential in the future. The proceeds from the rights issue will provide the required capital to fund those growth opportunities.
MUSCAT -- The much awaited rights issue of Renaissance Services SAOG Mandatory Convertible Bonds (MCBs) opened yesterday for subscription. The Company is offering 423,141,678 mandatory convertible bonds worth RO 43,160,451 at an issue price of RO 0.102 each on rights basis.
The proposed capital raise will strengthen the company's balance sheet and will also provide the required growth capital for investments in its core businesses.The company's Marine and Contract services businesses have grown significantly over the last couple of years, and offer tremendous growth potential in the future. The proceeds from the rights issue will provide the required capital to fund those growth opportunities.
© Oman Daily Observer 2012
