Dubai – Mubasher: The CEO of Shuaa Capital, Jassim Alseddiqi, has purchased a stake of 57.966 million shares through a special deal in the Dubai Financial Market (DFM).
Shine Investments in Commercial Projects (Shine) has sold all its holdings in Shuaa to Alseddiqi and other investors, according to a bourse filing on Sunday.
Following the transaction, Alseddiqi currently holds a 29.99% direct stake in Shuaa's share capital.
It is noteworthy to mention that in the first half (H1) of 2021, the consolidated interim financials of Shuaa Capital showed net profits attributable to the owners of AED 54.063 million, up from AED 4.92 million in the same half of 2020, marking its highest level in a decade.
