Dubai Banking Group (DBG) and Shuaa Capital settled a long-running bond dispute with DBG taking a 48.4 percent stake in the investment bank, Shuaa said on Thursday, in a move likely to ease investor concerns.
The deal, which follows months
Dubai investment bank Shuaa Capital said on Tuesday it rejected a claim from Dubai Banking Group (DBG) for a refund in a row over $409 million bond conversion deal.
'Shuaa Capital rejects the claim that any amounts are due to DBG becau
Government-controlled Dubai Banking Group (DBG) on Tuesday said it had initiated legal proceedings against Dubai investment bank Shuaa Capital in a dispute over a $409 million bond.
The dispute, which has weighed heavily on Shuaa's sha
The battle over a $409 million convertible bond in Shuaa Capital intensified on Tuesday after bondholder the Dubai Banking Group (DBG) refused to accept new shares Shuaa issued as part of the deal.
Dubai-based investment bank Shuaa ended m
Shuaa Capital (Shuaa), a Dubai-based investment bank, is considering buying back a convertible bond issue worth Dh1.5 billion ($408.5 million) or altering the price at which the bonds would be converted into shares.
The bank said in a stat
Shuaa Capital has extended the maturity date of its outstanding convertible notes, issued in October, 2007 and subscribed by Dubai Banking Group (DBG).
The decision was announced at the company’s third session of the extraordinary general
The Dubai Banking Group will take a 32 percent equity stake in investment bank Shuaa Capital by converting 1.5 billion dirhams ($408.4 million) of bonds into shares, according to media reports.
The decision to convert the bonds on October
Dubai Banking Group, a unit of Dubai Group, said it is looking at opportunities in Indonesia and Africa as it looks to become the world's largest Islamic financial services company by 2015.
Dubai Banking Group chief executive officer S
Islamic investment firm Dubai Banking Group appointed a non-executive chairman and top managers to lead Dubai Bank, the group said on Sunday.
Fadel al-Ali was appointed as non-executive chairman and Salaam al-Shaksy as chief executive, it