Dubai-Mubasher: Dubai retail firm Marka’s board approved the issuance of mandatory convertible bonds worth AED 250 million, according to a bourse filing.
The issue carries an interest rate up to 7% biannually.
The transfer price was set at a ceiling of 30 fils, based on the market price at issuance.
The issue term extends to 5 years.
The board gave the go-ahead to set up an authorized capital to the amount of AED 1 billion, as well as raising the issued capital within the limits of the authorized capital.
