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29/03/2018 05:58 AST
Drake & Scull International (DSI), a regional engineering and construction service provider, said it is targeting to issue a sukuk convertible into equity in the second quarter of 2018.
The DSI board approved plans for the issuance of convertible sukuk with an indicative value of minimum Dh450 million or the equivalent in other currencies, as private placement or public issuance to be converted to shares over a maximum period of 5 years, at a price of Dh3 per share or at a discount of 25 per cent of the market price of the share, to be determined at the time of conversion, the company said in an emailed statement.
The sukuk issuance is subject to regulatory and shareholders' approval at the company's upcoming General Assembly meeting, which is scheduled to convene in April 2018.
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The Board of Directors of Drake & Scull International PJSC ("DSI" or the "Company"), a regional leader in engineering and construction services, announced the appointment of Dr. Fadi Feghali as the G
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Drake & Scull International, a regional leader in engineering and construction services, is back in the black with a net profit of Dh700,000 ($190,549) for the fourth quarter in 2017 compared to a n
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Saudi Aramco has made a series of groundbreaking oil and gas discoveries in the Eastern Province and the Empty Quarter, further cementing Saudi Arabia's position as a global energy leader.
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