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NBQ issues Dhs2.36bn convertible bond
- United Arab Emirates: Tuesday, August 26 - 2008 at 07:27
The National Bank of Umm Al Quwain and Global Investment House will issue a Dhs2.36bn convertible debt instrument. Global will have the option to convert the instrument into 330 million new shares of NBQ. Upon successful conversion, the new issue would imply 25% expansion of the existing paid in share capital, giving Global a 20% in NBQ.
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Jeff Florian, Senior ReporterTuesday, August 26 - 2008 at 07:27 UAE local time (GMT+4)
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