Abu Dhabi – Mubasher: Finance House said Wednesday it sold an owned building in fair zone at Abu Dhabi Island.
The Abu Dhabi-listed company announced earlier this month the successful issuance of Tier I capital of AED 300 million.
The issuance was completed in two tranches of AED 200 million and AED 100 million each and was structured as a Mudaraba Sukuk.
The statement noted that CAPM Investment (CAPM), a subsidiary of FH , was the sole placement agent for the transaction.
The issue was aimed to support FH 's envisaged growth plans and will boost its capital adequacy ratio to robust levels of 22.4% on a consolidated basis and 21.5% on a stand-alone basis; well above the regulatory requirement of 15%.
"The issue was received positively by the market and has further strengthened our equity base as a result of which we are now well-positioned for accelerated asset growth in the near future,” said FH Chairman Mohammed Abdulla Alqubaisi
