A modern metropolis with over 6,000 years of history, Sharjah is an incredible emirate with coastline on both the Arabian Gulf Coast and the Gulf of Oman that blends tradition with modernity. Calling it the Pearl of the Gulf and the Cultural Capital of the Arab World, Sharjah is rich in history, heritage, and culture, and remains a land of opportunity. It's generous land full of boundless opportunities is a home for people from diverse backgrounds, cultures and regions. A true living destination in a globalized world where the bond is created by mutual understanding, love and respect for other cultures. The only emirate that has vast coastline on both sides of the UAE the Arabian Sea and Arabian Gulf, Sharjah the sunshine of the UAE remains a land of unexplored beauty & the center of family tourism where ancient flavors of agar wood, Oudh and incense greet tourists.
A modern metropolis with over 6,000 years of history, Sharjah is an incredible emirate with coastline on both the Arabian Gulf Coast and the Gulf of Oman that blends tradition with modernity. Calling it the Pearl of the Gulf and the Cultural Capital of the Arab World, Sharjah is rich in history, heritage, and culture, and remains a land of opportunity. It's generous land full of boundless opportunities is a home for people from diverse backgrounds, cultures and regions. A true living destination in a globalized world where the bond is created by mutual understanding, love and respect for other cultures. The only emirate that has vast coastline on both sides of the UAE the Arabian Sea and Arabian Gulf, Sharjah the sunshine of the UAE remains a land of unexplored beauty & the center of family tourism where ancient flavors of agar wood, Oudh and incense greet tourists.
Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
The messaging service and social-media platform owes creditors roughly $700 million by the end of April, according to people briefed on the company’s plans and loan documents viewed by The Wall Street Journal. At the same time, Telegram Group Inc. must cover rising equipment and bandwidth expenses because of its rapid growth, despite going years without attempting to generate revenue.
