Abu Dhabi-Mubasher: National Bank of Abu Dhabi (NBAD) reset the conversion rate of its $500 million senior convertible bonds to $3.44 per share, according to a bourse statement.
The new conversion rate marks a reduction from $3.48 per share.
Separately, last month, NBAD raised its cash dividend from 40% to 45% of capital or 0.45 fils per share, totalling AED 2.34 billion.
