ADNIC lists convertible bonds on ADX

Abu Dhabi: Abu Dhabi National Insurance Company (Adnic) listed on Thursday convertible bonds on the Abu Dhabi Securities Exchange (ADX).

The value of the bonds reached Dh390 million, with a fixed interest rate of 7.5 per cent annually.

Convertible bonds are rare in the GCC, with only a few companies having issued them. ADX said the listing is in line with its plans to achieve a financial system that supports development in Abu Dhabi.