Wateen Telecom today announced that it has received Rs. 2.1 billion as emergency fund injection from Dhabi Group.Wateen didn’t say any word on the type of funding, however, it is assumed that its a soft loan – spanning over a longer duration of period.


This fund injection will not dilute Wateen’s shares as a result, said the statement.
The primary objective is to secure pending liabilities along with stabilization of Wateen telecom in the market and the stocks.

Wateen says that the decision that came from board of directors will imply as an influx of US dollars into the country while for Wateen it shows shareholders’ confidence in the company and its management while supporting the business plan.
It merits mentioning here that Wateen had raised Rs. 2 billion with its IPO earlier this year.