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ABU DHABI / WAM
Abu Dhabi Securities Exchange (ADX) has listed mandatory convertible bonds worth AED390 million, that were issued by Abu Dhabi National Insurance Company (ADNIC), as shares of the company. ADNIC had issued the bonds at a fixed interest rate of 7.5 percent per annum. ADX said the issuance of the dirham-denominated convertible bonds was part of its commitment to Abu Dhabi’s plan’s for a financial system that supports development in the emirate.