Dubai – Mubasher: Shareholders of Dubai-listed Gulf Navigation Holding gave a nod to issuing convertible bonds at AED 1 par value each.
The bonds’ first issue amounts to $25 million (AED 92 million), provided that the company’s board of directors shall negotiate with creditors and set the value of other issues not more than $35 million (AED 128 million).
Meanwhile, Gulf Navigation stock moved higher on Wednesday, with a rise of4.3%, bucking the market fall.
