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Zain Saudi expects 60% revenue growth this year
Thursday, 02 September 2010
Zain Saudi Arabia, a unit of Kuwait’s biggest mobile-phone company, expects a 60 percent growth in revenue this year compared with 2009, Zain Group Chief Executive Officer Nabil Bin Salamah said on Thursday, in an e-mailed statement.
Zain Saudi Arabia’s capital increase is to finance the company’s growth plans, Bin Salamah said.
Zain Saudi is seeking investor approval to reduce its share capital by 48 percent and then raise its capital by 60 percent at an undisclosed date.
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