Aldar Properties (ALDR.AD) has no plans to delist its stock after investors asked for clarification of its capital raising plans announced last week when the Abu Dhabi government threw it a $5.2 billion lifeline.
Abu Dhabi stepped in to support the struggling developer last Thursday, agreeing to buy some of its key assets and subscribing to a bond sale. [ID:nLDE70C22R]
Aldar will issue 2.8 billion dirhams in convertible bonds to Mubadala, the Abu Dhabi investment fund, after shareholders approve the plan, The bonds will mature on or about December 15 with a coupon rate of 4 percent.
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