Shuaa seeks shareholder nod on bond maturity

by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 22 December 2008

SHARES SUSPENDED: Shuaa is seeking shareholder approval to extend the maturity of convertible bonds. (Getty Images)

Shuaa Capital said on Monday it would seek shareholder approval next month to extend the maturity of convertible bonds.

The Dubai-based investment bank, whose shares were suspended in early trading on Dubai's bourse on Monday, said the meeting would take place on Jan. 13.

Shuaa said in November it wanted to extend the conversion period of bonds issued to Dubai Banking Group by one year.