Dubai-listed Shuaa Capital to issue $150mln bonds | ZAWYA MENA Edition:
Dubai’s Shuaa Capital has received the green light to issue bonds worth up to $150 million.
The bonds will be offered through a private placement and will be listed outside the UAE, the company said in a bourse filing on Monday.
The asset management and investment banking platform, which has $13 billion in assets under management, has joined a growing number of corporates making a comeback to the debt markets to raise extra capital.
The company’s net profit for the second quarter of the year amounted to 267 million UAE dirhams.
Despite the headwinds from the coronavirus pandemic, the company said its investment bank’s model remains resilient and that it is actively involved in capital restructuring and raising mandates in excess of $2 billion.
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