16.12.2011 - Mubadala converts $571.7 mln bonds into Aldar stake
Mubadala Development has converted Dh2.1 billion (US$571.7 million) worth of bonds into shares in Aldar Properties, sending the Abu Dhabi property developer's shares to their lowest since their 2005 listing. The strategic investment company owned by the Abu Dhabi Government converted bonds bought in March for 1.2 billion Aldar shares, taking its total stake to 49 per cent. Aldar posted a loss last year of Dh12.6bn, leading to issuance of Dh2.8bn of convertible bonds to Mubadala in March as part of a Dh19.2bn capital injection...............................................Full Article: Source
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