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07 December 2023

Abu Dhabi Financial Group, SHUAA Capital merger completed

Photo: File

By Wam

Following final regulatory approvals on the transaction with Abu Dhabi Financial Group, ADFG, SHUAA Capital has announced the completion of the merger with ADFG and the raising of its Authorised Capital from AED1,065,000,000 to AED2,535,720,000.

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 SHUAA, 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.