National Bank of Umm Al Quwain (NBQ) & Global Investment House Announced Dh2.36 Billions Bond

NBQ issues convertible bond worth Dh2.36b
GulfNews - Dubai,United Arab Emirates
Dubai: The National Bank of Umm Al Quwain (NBQ) and Global Investment House yesterday announced a primary agreement to issue a Dh2.36 billion convertible debt instrument. ...Upon successful conversion, the new issue would imply 25 per cent expansion of the existing paid in share capital, giving Global a 20 per cent stake in NBQ... The bank has an aggressive business plan to reinforce its presence in the UAE. The Government of Umm Al Quwain is the bank's major shareholder since inception, apart from major UAE major investors. ...