ABU DHABI, 1 June, 05 (WAM) - Oasis International Leasing'sDh800 million rights issue has been oversubscribed by Dh220 million,according to the company.
The Abu Dhabi based leasing company said the additional 80 millionshares would be allocated according to UAE federal laws and AbuDhabi Security Market regulations. The rights issue raises OasisLeasing's paid up capital to Dh1.5 billion, reports in the UAE'sdailies said.
Mohammed Saif Al Mazrouei, Chairman, Oasis Leasing said: "Whenevera share offer is oversubscribed it is undoubtedly a success.
For the rights issue to be oversubscribed by 28 per cent is avote of confidence in the future of Oasis Leasing by our existingshareholders. The additional capital will enable us to grow anddiversify our assets and to continue to generate attractive shareholderreturns." Oasis Leasing recently formed a joint venture withthe Abu Dhabi Investment Company (ADIC) and Tabreed after buyinga stake in the Industrial City Cooling Company (ICCC), whichowns two district cooling plants in Musafah, worth approximatelyDh80 million. It is the company's first investment in non-aviation and non-maritimeassets.The company is also close to concluding an agreement with EtihadAirways. The two have signed a Letter of Intent (LoI) for eightA330, 200s.
