UAE insurance firm Salama to raise up to $48mln in Mandatory Convertible Sukuk following capital reduction
Shareholders approve capital reduction to offset accumulated losses and cancel treasury shares. The Islamic Arab Insurance Company (Salama), listed on the Dubai Financial Market (DFM), is undergoing a capital restructuring that will see the Takaful provider raise up to 175 million UAE dirhams ($48 million) through a Mandatory Convertible Sukuk issuance following a capital reduction. […]