ADFG and Shuaa Capital merger completed
Shuaa raises authorised capital to Dh2,535,720,000
Image Credit: Supplied
Dubai: Following final regulatory approvals on the transaction with ADFG (Abu Dhabi Financial Group), SHUAA Capital has announced the completion of the merger with ADFG and the raising of its authorized capital from Dh1,065,000,000 to Dh2,535,720,000. This comes following the admission of 1,470,720,000 new shares on the Dubai Financial Market in favour of ADFG’s parent company and strategic investor in Shiaa, Abu Dhabi Capital Management LLC.
As a demonstration of the strategic investor’s commitment to the transaction, the new Shuaa shares will be subject to a 12-month lock-up period from the date of admission.