UAE's Aldar Properties' board plans to call a shareholders meeting to seek approval for sale of "certain" assets and issue a convertible bond, the struggling property developer said in a statement on Tuesday.
Aldar said its board of directors, which is meeting on Jan. 13, will also consider converting debt it issued to Abu Dhabi's investment fund, Mubadala in 2008 into shares of Aldar, the statement added.
The Abu-Dhabi developer has been in the spotlight in recent months amid speculation that it would receive government support to meet its cash needs.
No comments:
Post a Comment