1.05 AM Thursday, 28 September 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:52 06:06 12:13 15:36 18:14 19:27
28 September 2023 $dmi_content.escapeHtml4($rs.get('weather.code.w${report.significantWeather.code}')) Max: 37 °

Aldar issues 16.4 m shares from convertible bond

By Agencies


Aldar Properties the second-biggest UAE developer by market value, issued 16.4 million shares on Thursday from convertible bonds it sold earlier this year, the Abu Dhabi bourse said.


Aldar has until January 3 to issue another 13.97 million shares, the bourse said in a statement on its website on Thursday.

In February, Aldar sold $2.53 billion worth of Islamic bonds, or sukuk, convertible into shares to raise money for expansion.

Aldar shares were down 3.95 per cent at 0803 GMT. (Reuters)