Business | Investment
Taqa Dh4.15b convertible bonds open to non-shareholders
Abu Dhabi National Energy Co., the state-controlled investment company known as Taqa, said its planned dh4.15 billion ($1.13 billion) sale of convertible bonds next month will be open to external investors.
- Bloomberg
- Published: 15:06 June 12, 2008
Abu Dhabi: Abu Dhabi National Energy Co., the state-controlled investment company known as Taqa, said its planned dh4.15 billion ($1.13 billion) sale of convertible bonds next month will be open to external investors.
"Subscription in the bonds will not be restricted to the company shareholders as they will be offered to the shareholders and other investors,'' Taqa said in a statement to the Abu Dhabi Securities Exchange.
Taqa on June 10 said its directors approved a plan to sell convertible bonds to those who own the company's shares on June 16.
The sale will open July 1 and close July 10, it said.
More from Investment
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
