Arabtec to extend subscription period of rights issue

(MENAFN) Close resources revealed that Arabtec intend to extend the subscription period of its USD650 million rights issue supposedly to end on Sunday next week, Alarabiya reported. Dubai builder "Arabtec" put the rights issue on subscription two weeks ago in sake of assisting builder to enlarge its regional operations which is part of an expansion plan assumed to be executed over 5 years with an intention of capital increase if required. It's worth noting that The company has obtained various deals and contract conducted by its new management in 2013 amounting to USD3.5billion so far, Chiefly Abu Dhabi- home of mother company Aabar.