Dubai – The shareholders of Ajman Bank will consider the issuance of $150 million Teir 1 Sukuk which are not convertible into shares, according to a recent disclosure to the Dubai Financial Market (DFM).

The ordinary general meeting (OGM), set to be held on 20 April, will discuss authorising the bank's board to determine the date of issuance, which shall not exceed one year from the date of the OGM.

It is noteworthy to highlight that over the course of 2019, the bank's net profits plunged to AED 84.402 million from AED 170.034 million in 2018.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.