Thursday 05, July 2018 by Kudakwashe

Union Properties plans benchmark Sukuk issuance

 

The board directed the executive management and authorised them to complete the procedures.

  

UAE-based Union Properties’ (UPP) has announced that the board of directors approved the issuance of AED 500 million Sukuk.

The board authorised the executive administration to complete regulatory procedures for the potential Islamic bond issue, according to a statement to Dubai Financial Market.

Also, the board approved to elect Ahmed Yousef Khouri as the firm’s managing director.

  

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