Dubai – Mubasher: The shareholders of Shuaa Capital have approved the issuance of non-convertible bonds valued at $150 million in one or more tranches in a private placement.

These bonds will be listed on a market outside the UAE, according to the company's disclosure to the Dubai Financial Market (DFM) on Thursday.

During the ordinary general meeting (OGM), the shareholders authorised the company's board to implement all the actions necessary for the issuance, including completing the timing, terms, and pricing details.

It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits excluding unrealised mark-to-market losses on portfolio investments reached AED 164 million, when compared to the same period of 2019.