Bank of Sharjah seeks shareholder nod for $1.5b bond programme

Dubai: Bank of Sharjah is seeking shareholder approval for the issuance of bonds worth up to $1.5 billion (Dh5.5 billion), the lender told the bourse on Wednesday.

Assent will be sought at a shareholder meeting to be held on April 30, the statement showed.

Any bond issuance will be subject to a board resolution on the matter and securing approval from relevant authorities, it added.

The bank will review and approve the report of the board of directors on the bank’s activities and its financial position for 2015.