Zain raises capital to fund expansion

3 Dec 2007

The Kuwaiti mobile group Zain says it plans to raise around USD4.4 billion by selling stock to existing investors. The group will raise its capital by 75% by selling shares at KWD0.85 (USD3.10) per share. The cash raised will fund international expansion, according to a report from Reuters.

Kuwait, Zain Group, Zain Kuwait