Abraaj Capital $375 million rights issue fully subscribed

Abraaj Capital Holdings Limited (the parent entity for the Abraaj Group and its associated funds) announces that it has completed a $375 million capital increase to existing shareholders, strengthening its balance sheet to capitalise on strategic buying opportunities, expand its geographic and product coverage, and consolidate its market-leading position.

The rights issue which increases the company's paid-in capital to $1.5 billion was fully subscribed. Abraaj is the region's largest private equity group.

Use of the proceeds will include seeding new funds to take advantage of an attractive investment environment, as well as possibly executing strategic opportunities for Abraaj itself to expand its sphere of operations. This will also help accelerate and enhance long-term shareholder value by protecting some of the unlocked value in the balance sheet.

Shaikh Abdulrahman Al Turki, Chairman of Abraaj Capital Holdings Limited, said, "This initiative will enhance value for all Abraaj shareholders and allow the firm to consummate opportunities in an expedient manner and at an interesting price-point in the cycle, while also retaining the option to position itself for a successful liquidity event in the future."