ADFG buys 48% stake in Shuaa Capital

The total value of the transaction was at Dh356 million

Last updated: September 16, 2018 | 00:44

1 MIN READ

Dubai

Shuaa Capital said on Sunday that Abu Dhabi Financial Group has bought 48.36 per cent stake or 515 million shares in the company for Dh0.705 each.

The stake was bought by a unit of ADFG from from Dubai Banking Group, a subsidiary of Dubai Group. The total value of the transaction was at Dh356 million, according to Gulf News calculations.

Shuaa Capital shares were up 10 per cent at Dh1.63, after gaining more than 200 per cent in the year so far.

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