Saturday 10 October 2015

Drake & Scull gets nod for investor plan

Dubai, July 14, 2014

Dubai construction firm Drake & Scull said on Monday that its shareholders had approved issuing a convertible bond worth 55 million dirhams ($15 million) to allow a strategic investor to buy into the company.

The identity of the investor was not disclosed in the bourse filing, which said the meeting took place on Sunday and also granted permission for the board to negotiate the terms of the convertible bond issue.  - Reuters

Tags: Dubai | Drake and Scull |

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