Dubai-Mubasher: SHUAAA Capital denied that it will cut about 15% of its workforce on Wednesday, according to a statement.
The company laid off a "limited number of staff", not more than six employees who were mostly from support functions.
Dubai Group is in the process of selling its 48% stake in SHUAAA, Dubai Holding’s CEO Fadel Al Ali said.
However, SHUAA refused to comment on the sale transaction.
SHUAAA's stock rose 0.15%, with a turnover of AED 3.6 million generated from the exchange of 5.5 million shares.
