logo

Dubai's Shuaa Capital board approves size of mandatory convertible bond

Zawya10-03-2025

The board of directors of the Dubai-listed Shuaa Capital has approved the sizes of the two mandatory convertible bond tranches (MCB) it expects to issue as as part of its capital optimisation plan.
The bonds are to be issued in two tranches, one open to new investors with value of between 85 million dirhams ($23 million) and AED 150 million, and the second for noteholders of the entity's expired bond, has been approved for a value up to AED 267.1 million.
The issuance has been set for on or before March 18, 2025, subject to approval by the Securities and Commodities Authority.
They will be issued through private placement and will convert to equity in the company after issuance at AED 0.32 per share. Shuaa's share price is trading at AED 0.224 on Monday.
Last month, Shuaa said it has received binding commitments from three entities to subscribe to the tranche that is open to new subscribers. They are Abu Dhabi-listed Eshraq Investments, United Motors & Heavy Equipment Company LLC, which is part of Abu Dhabi conglomerate Darwish bin Ahmed & Sons Group, and Al Baher Real Estate Development Company LLC.
(Writing by Brinda Darasha; editing by Daniel Luiz)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Redington and Autodesk expand strategic relationship into new markets
Redington and Autodesk expand strategic relationship into new markets

Zawya

time20 minutes ago

  • Zawya

Redington and Autodesk expand strategic relationship into new markets

Dubai, United Arab Emirates – Redington, a leading technology aggregator and innovation powerhouse across emerging markets, today announced the expansion of its relationship with Autodesk, a leader in software for architects, builders, engineers, designers, manufacturers, 3D artists and production teams. Redington previously supported Autodesk in the UAE, Bahrain, and Oman, and will now extend to additional key markets including Saudi Arabia, Qatar, and Kuwait. In expanding the relationship with Autodesk, Redington will work closely with the channel ecosystem to deliver Autodesk's industry-leading technology solutions, supporting sectors including construction, manufacturing, engineering, and media and entertainment. By bridging the gap between concept and construction, Redington and Autodesk aim to empower organizations to innovate faster, build smarter, and drive sustainable growth. Dharshana Kosgalage, Executive Vice President, Technology Solutions Group, Redington, said, 'At Redington, we are dedicated to empowering our partners and customers with world-class technologies that drive digital innovation. Expanding our relationship with Autodesk further strengthens our portfolio, enabling us to help businesses transform the way they design, build, and operate in today's fast-changing landscape. Together with our channel partners, we're committed to driving the growth of the Autodesk business by providing robust support, comprehensive training, and the tools they need to succeed — empowering them to deliver exceptional value to customers across the region.' Claudette Reuter, senior manager, emerging markets channel sales, Autodesk, comments, 'We're excited to expand our collaboration with Redington into new markets across the region. With Redington's strong channel network, local expertise, and commitment to customer success, more organizations will now have access to the technology and skills needed to drive impact where it matters most for their business. Together, we aim to deliver greater value to our customers across the Gulf.' Autodesk's powerful suite of solutions—from 3D design and visualization to real-time collaboration and project delivery—will be made more accessible through Redington's deep regional presence and expertise. Together, the two companies aim to foster a new era of digital excellence across the Middle East, helping businesses streamline operations, enhance creativity, and realize smarter, more sustainable outcomes. About Redington Redington is a thriving technology solutions provider with over US$10 billion in revenues, with a network of 450+ international brands across 40 markets in the IT space. Redington was ranked 7th globally by renowned research firm Canalys based on 2023 revenues. It is projected to be one of the fastest-growing distributors in the world. Redington not only bridges the gap between innovation and adoption; it masterfully navigates and dissolves the complexities of technology friction—the multifaceted challenges that emerge as technology evolves and integrates into various markets. Addressing key market, technology, and knowledge frictions, Redington empowers businesses to thrive in complex and evolving landscapes. By transforming these frictions into opportunities, we drive profound technological impact and accessibility. Redington ensures seamless distribution across IT/ITeS, Telecom, Lifestyle, and Solar sectors in regions including India, South East Asia, the Middle East, Africa, and Turkey. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit or follow @autodesk. #MakeAnything Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

How top UK schools are helping shape educational landscape of the UAE
How top UK schools are helping shape educational landscape of the UAE

The National

time43 minutes ago

  • The National

How top UK schools are helping shape educational landscape of the UAE

Flagship British schools are primed to be at the forefront of a new era of education in the UAE, as the nation seeks to bring cutting-edge technology and the latest teaching methods to the classroom. King's College School Wimbledon will be the latest high-profile arrival from the UK when it swings open its doors at Abu Dhabi's Fahid Island in 2028. It was announced by developers Aldar on Monday morning that the prestigious school would open on the just-announced island in Abu Dhabi, making it the first school to be confirmed there. The school, which will hold up to 2,200 pupils. It will be part of an illustrious list of British curriculum schools helping to redefine an expanding education landscape as the Emirates aims to serve a rapidly- growing population, including an influx of super-rich residents drawn from across the world demanding the best schooling for their children. The number of millionaires living in Dubai has doubled in the past decade, making it one of the world's fastest growing wealth hubs, the World's Wealthiest Cities Report 2025 found. From Harrow to helipads The renowned Harrow School is to launch campuses in both Abu Dhabi and Dubai under a partnership with UAE education provider Taaleem. Harrow International School Abu Dhabi is set be to the capital's first boarding school. It was announced in February that the Abu Dhabi branch will open from the middle of next year, with enrolment beginning in October. A second UAE campus will be 'fully operational' in Dubai in 2026. Applications for places will be accepted from September, with the school initially catering for pupils from Early Years to Year 6 as the expansion is gradually phased in. 'Harrow has a long-established reputation for excellence, and through our collaboration with Harrow International Schools Limited, we are proud to bring the same values-driven education to Dubai that has shaped generations of leaders,' said Khalid Al Tayer, chairman of Taaleem, at the time. Harrow's alumni include royalty, world leaders such as Winston Churchill and Jawaharlal Nehru, as well as prominent figures from the arts and sport. The number of pupils who were enrolled in Dubai's private schools increased by 6 per cent this year, according to data from the Knowledge and Human Development Authority (KHDA). Gems School of Research and Innovation, which is opening in Dubai in August, will teach the British curriculum. Former UK foreign secretary William Hague is to serve as its honorary patron. It has been built with an investment of $100 million (Dh367 million) and will feature an elevated football field that doubles as a helipad, a 600-seat auditorium, an Olympic-size swimming pool and an NBA-spec basketball court. The campus also has disruption labs to develop entrepreneurial skills, specialist primary spaces for technology, design, sports and the arts, tech hubs and an immersive research centre. Fees range from Dh116,000 ($31,500) for pupils in foundation stage one to Dh206,000 in year 12, and enrolment is open. Top of the class Out of 227 private schools in Dubai, 90 operate under a British curriculum, according to the KHDA's 2024-25 report on private schools. The next closest is the Indian curriculum operated by 34 schools. The report also revealed that British schools are the second most popular choice for Emiratis, with only US schools ranking higher. While British schools are popular in the UAE, they often don't come cheap. The two Harrow-branded schools set to open in the UAE next year will have fees of Dh80,000 to Dh100,000 ($21,780 to $27,230) for pupils in Early Years to Year 6, The National reported earlier this year. 'You're looking at state-of-the-art facilities and an incredible performing arts auditorium and dance studios,' Alan Williamson, chief executive of Taaleem, the education provider behind the project, told The National at the time. 'You're looking at robotics facilities and also a beautiful learning environment.' Other British schools also charge premium rates. A place, for example, at Nord Anglia International School (Dubai), which was founded in 2014, costs between Dh68,026 and Dh102,871, while Brighton College Abu Dhabi, which opened in 2011, charges between Dh50,830 and Dh80,780. There are currently 387,441 pupils enrolled at 227 private schools for the academic year 2024-25. Official statistics show that more than 365,000 pupils were enrolled in Dubai's classrooms in 2023, up from 326,000 in November 2022. Ten schools opened in the emirate for the current academic year. In line with Dubai's Education Strategy 2033, the KHDA aims to establish more than 100 private schools by 2033. Highly regarded The highest ranked British school in Dubai, according to a 2025 league table released by is The Sheffield Private School, which opened in 2004. It provides education for close to 1,200 pupils and the average fee is Dh30,500. The website ran a survey in which 74 per cent said their child felt a strong sense of belonging to the school, above the 53 per cent average in all UAE schools. This was closely followed by Victory Heights Primary School, which opened in 2013, where the average fee is Dh47,500. In Abu Dhabi, the highest-ranked school in 2025 was British School Al Khubairat, Abu Dhabi, founded in 1968, which came first in a table released by 'The British School Al Khubairat offers children a beyond-outstanding education with inspirational and caring leadership and faculty driven by ambitions for every child at the school bar none,' read the review from the website for the school, which charges an average fee of Dh61,500.

Meraas announces Jumeirah Residences Emirates Towers Dubai branded real estate project with 754 homes
Meraas announces Jumeirah Residences Emirates Towers Dubai branded real estate project with 754 homes

Arabian Business

timean hour ago

  • Arabian Business

Meraas announces Jumeirah Residences Emirates Towers Dubai branded real estate project with 754 homes

One of Dubai's most iconic addresses is set for a major overhaul with the launch of an Emirates Towers branded real estate project. Meraas, a member of Dubai Holding Real Estate, has announced the launch of Jumeirah Residences Emirates Towers, a bold new addition to Dubai's iconic skyline. Designed by acclaimed SCDA Architects, the development introduces a distinctive cantilevered architectural form and features 754 branded residences, ranging from one-to-four-bedroom layouts, set across two distinctive towers. Jumeirah Residences Emirates Towers in Dubai The towers offer views of the Museum of the Future and Downtown Dubai, with each residence crafted to ensure complete privacy. A private entrance beneath the striking cantilever leads to a grand double-height lobby, serene garden courtyard and lounge. The development's three exclusive sky terraces feature infinity-edge pools, landscaped lounges and open-air entertainment spaces, enhancing the towers' allure. Residents will enjoy access to a range of lifestyle and wellness amenities, including: State-of-the-art fitness centre with dedicated studios Executive co-working lounge Private cinema Resort-style family pool Padel courts Children's play zone Social and dining venues Khalid Al Malik, CEO of Dubai Holding Real Estate, said: 'Jumeirah Residences Emirates Towers represents the evolution of Dubai's luxury living landscape, where world-class design meets unparalleled hospitality. 'By integrating Jumeirah's legendary service standards with innovative architectural design, we are setting new benchmarks for premium residential offerings that reflect Dubai's position as a global destination of choice. 'This project reaffirms Meraas ' dedication to creating contemporary spaces that perfectly balance purposeful living with sophisticated comfort.' Residents will benefit from Jumeirah's luxury hospitality services, including access to bespoke wellness treatments, personal fitness coaching, 24-hour concierge services and vehicle management. Residents can also enjoy access to private chefs for exceptional dining experiences, supported by a dedicated team to deliver seamlessly executed events. Thomas B. Meier, CEO of Jumeirah, said: 'Jumeirah Residences Emirates Towers marks the next chapter in our growth journey, showcasing the future of the Jumeirah brand through intentional design, mindful living and holistic wellbeing. 'With a growing focus on branded residences designed to elevate and inspire living well every day, this development reinforces our leadership in luxury hospitality, rooted in the spirit of Arabian hospitality.' Occupying a coveted central location, Jumeirah Residences Emirates Towers is surrounded by prestigious destinations, including: Museum of the Future DIFC One Central Jumeirah Emirates Towers

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store