Aldar Properties, Abu Dhabi's biggest real estate developer, said Tuesday it may shed assets and issue new bonds while giving the government a larger stake in the cash-strapped company.
Aldar said in a filing to the emirate's stock market that its board will meet Thursday to discuss the proposals in preparation for a possible shareholder vote. It gave few details.
Among the topics up for discussion is the conversion into shares of existing convertible bonds previously issued to state-run investment firm Mubadala Development Co. - a move that would effectively boost the government's equity stake in Aldar.
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