Dubai's Amlak Shareholders To Meet Sept 21 On Restructuring Plan
Now Reading
Dubai’s Amlak Shareholders To Meet Sept 21 On Restructuring Plan

Dubai’s Amlak Shareholders To Meet Sept 21 On Restructuring Plan

Creditors of the company approved a plan to restructure debts worth around $2.7 billion last month.

Avatar

Dubai mortgage lender Amlak Finance said on Wednesday that it would hold a shareholder meeting on Sept. 21 to discuss its restructuring plan and a proposed issue of equity-linked bonds.

Creditors of the company, whose shares have been suspended since late 2008 after it was hit by a local real estate crash and the global financial crisis, last month approved a plan to restructure debts worth around $2.7 billion.

Shareholders will meet later this month to discuss the restructuring plan and the company’s financial outlook, a statement to the Dubai bourse said on Wednesday.

A plan to issue a sharia-compliant financial instrument, convertible into the firm’s shares and worth up to Dhs2.1 billion ($572 million), will also be considered.


© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top