UPDATE 1-Dubai's Shuaa to vote on whether to shut down

* Bank says has enough equity to continue as going concern

* Investors already voted once to continue operations

(Adds details, comment)

DUBAI, April 14 (Reuters) - Dubai-based investment bank Shuaa Capital SHUA.DU said shareholders will meet on Wednesday to decide whether it would continue operations or be dissolved, adding that it has enough equity to carry on.

Shuaa, Dubai's biggest investment bank, posted a fourth-quarter loss of 577 million dirhams ($157 million) in February and said 2009 was unlikely to be easy. [ID:nLF318527]

It has a total equity base of 2.3 billion dirhams, "more than sufficient to allow the firm to continue as an ongoing concern and operate all its business units in the future," it said in a statement on the Dubai bourse website late on Monday.

Shareholders were asked the same question at the bank's annual general assembly in March, when they unanimously approved a motion for the company to continue.

Regulators then asked for the matter to be considered again after shareholders approved the bank's accounts last month. They will vote on whether to continue or dissolve the company at an emergency general meeting, Shuaa said.

Shareholders will also decide whether to give the board authorisation to amend the terms of 1.5 billion dirhams of convertible notes, including possibly amending the maturity date and conversion rate, the bank said.

Former boomtown Dubai, where the stock market fell 72 percent last year, is struggling with a sharp real estate price correction. ($1=3.673 dirhams) (Reporting by Daliah Merzaban and Sam Cage; Editing by Thomas Atkins and Anshuman Daga)