Dubai – Mubasher: Shuaa Capital approved Mandatory Convertible Bond (MCB) tranches with a total value of up to AED 425.50 million, according to a press release.
This step boosts the DFM-listed company’s capital optimisation journey, reinforcing its strategic focus on delivering value to shareholders.
Upon completion of its capital optimisation plan, Shuaa will enter a new phase of growth, anchoring its position as a leader in the MENA financial markets and creating enhanced value for its shareholders.
However, the issuance remains subject to approvals from shareholders and regulatory authorities.
The first tranche, valued at up to AED 150 million, will be offered to existing shareholders through a private placement, with mandatory conversion into shares at AED 0.32 per share.
Meanwhile, the second tranche, valued at up to AED 275.50 million, will be offered to holders of existing bonds issued by a Shuaa-related special-purpose entity under the same conversion terms.
This pricing represents an attractive opportunity for investors seeking to participate in SHUAA's growth story at a pivotal moment.
Badr Al Olama, Chairman of Shuaa Capital, said: "The MCB tranches represent an opportunity for shareholders and investors to participate in the next chapter of our growth story."
Wafik ben Mansour, CEO of Shuaa Capital, commented: "We are committed to completing this process in the next quarter and to delivering sustainable value to our shareholders."
