Abu Dhabi – Mubasher: The board of Agthia Group will discuss the issuance of mandatory convertible bonds to General Holding Company (Senaat) as a price to acquire Al Foah Company.
The mandatory convertible bonds will have a nominal value of AED 1 each in an aggregate amount of AED 450 million, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Wednesday.
The bonds will be converted into 120 million shares at a conversion price of AED 3.75.
It is noteworthy to mention that in late November, the shareholders of Agthia has agreed on the acquisition of Al Foah Company, the world's largest dates and date-based products processing and packaging company.
