Esterad launches Bahrain's first public convertible bonds
Date
1/10/2010 12:00:16 AM
(MENAFN- Khaleej Times) Esterad investment Company BSC (Esterad), on Saturday announced the opening of subscription to the first public offering of convertible bonds to be made by a Bahraini company on the Bahrain Stock Exchange.
The Offer will see $18.5 million worth of convertible bonds paying a 4.5 per cent coupon publicly marketed to all investors across the region.
The subscription period for the bond offer commences on January 10, 2010 and will close on January 24, 2010. shareholders of Esterad Ordinary Shares on the register at 31 December 2009 will be entitled to subscribe for three bonds for every 310 Ordinary Shares held at the record date.
The Offer is also open to members of the public and includes an over-allotment element of up to $21.2 million in case of over subscription.
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