Zain investment

26 Sep 2008

Kuwait based Zain Group has recently raised USD4.49 billion from its shareholders promising to use the money to fund further acquisitions. Zain’s CEO Dr Saad Al Barrak said, ‘This is the successful completion of the largest capital increase in the history of Kuwait, a unanimous vote of confidence…in our profitable expansion strategy aiming to be a top-ten global mobile operator by 2011.’ The group is planning expansion projects across the Middle East and African markets in which it operates. ‘We expect these investments to bring about substantial increases in the Group’s future revenues and net profits,’ said Dr Al Barrak.

Kuwait, Zain Group