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Article: United Arab Emirates: DIB to buy back $50.6m of sukuk.
- Article from:
- TendersInfo
- Article date:
- May 23, 2009
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Byline: shiv03
Dubai Islamic Bank (DIB) will buy back $50.6 million (Dh185.7 million) of its sukuk maturing in 2012.
The buy-back price will be 88 per cent of the bonds face value, the bank said in a statement to Nasdaq Dubai on Wednesday.
The settlement date for the purchase is May 21. Dubai Islamic has $750 million of sukuk due 2012. The bank on May 6 had offered to buy back as much as $200 million of sukuk.
Dubai-listed logistics company Aramex approved a proposal to allow foreigners from outside the Gulf region to own 49 per cent of the companys shares, it said yesterday.
"Gulf Council Countries nationals may, along with ...