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Gulf Navigation Issues AED2.3 Billion Bonds to Brooge Energy

MT Newswires·01/08/2026 03:59:02
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03:59 AM EST, 01/08/2026 (MT Newswires) -- Gulf Navigation (DFM:GULFNAV) said Thursday it issued 2.34 billion Emirati dirhams of convertible bonds to its recently acquired oil storage company Brooge Energy. Further, the Dubai-listed maritime and shipping company received notices to convert 1.17 billion dirhams of bonds into 935,630,603 shares. The conversion will result in a capital increase to 2.59 billion dirhams from 1.65 billion dirhams.