lance
07-31-2006, 01:53 AM
National Bank of Abu Dhabi (NBAD) yesterday announced it has secured approval from the regulatory authority for listing its convertible notes on the ADSM on August 8.
The bank issued the notes worth Dh2.5 billion last year to rank as tier-two capital.
"This is a good deal for investors, the bank and the market. For the bank we raised tier-two capital efficiently adding to our capital base, and allowing us to serve the growing needs of Abu Dhabi and the UAE. Investors will have the full upside possible gain of the share price with downside capital protection if the share price falls. For the market, it introduces a new investment instrument," Richard Amos, general manager, of Investment Banking Division at NBAD told Gulf News.
http://www.gulfnews.com/business/Banking_and_Finance/10056300.html
The bank issued the notes worth Dh2.5 billion last year to rank as tier-two capital.
"This is a good deal for investors, the bank and the market. For the bank we raised tier-two capital efficiently adding to our capital base, and allowing us to serve the growing needs of Abu Dhabi and the UAE. Investors will have the full upside possible gain of the share price with downside capital protection if the share price falls. For the market, it introduces a new investment instrument," Richard Amos, general manager, of Investment Banking Division at NBAD told Gulf News.
http://www.gulfnews.com/business/Banking_and_Finance/10056300.html