(MENAFN) Muscat Electricity Distribution Company (MEDC) has raised its capital base to USD 186.3mn by issuing USD 185.02mn in rights shares.
Accordingly, MEDC updated its balance sheet over 2015 to permit its long-term borrowing, as per the strategic financial plan.
However, there is no relation between the company's capital improvement program and the study on privatization.
In addition, the objectives of MEDC privatization will promote private sector share in the global building process and tom increase the value for staff and customers.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.