Shuaa Capital gets board approval for $150m bond issue
To be issued as a private placement, it will be listed outside of the UAE
Dubai: Shuaa Capital, the investment company, plans to raise $150 million through issuing bonds that will be listed outside of the UAE. This will be done through a private placement.
The Board of Directors has cleared the plans and the issue could hit the markets within weeks, market sources say. UAE government and private sector entities are making full use of the current low interest rates to tap debt funds. By and large, most recent issuances made by UAE entities have received strong response from investors.
The company recorded net profits of Dh47 million last year. Recently, it said there will be changes made to its investment strategy portfolio, with an emphasis placed on tech-related buys.