Dubai – Mubasher: Shuaa Capital, listed on the Dubai Financial Market (DFM), on Monday revealed that its strategic investor Abu Dhabi Capital Management LLC has transferred the whole capital increase shares to its current shareholders.
The lock-in period of not less than 12 months will continue starting from the date of listing the newly issued shared in the DFM as per the Securities and Commodities Authority’s (SCA) approval, Shuaa Capital said in a statement.
Shuaa Capital previously announced it had raised its authorised capital to AED 2.535 billion from AED 1.065 billion through the issuance of nearly 1.470 billion shares at a nominal value of AED 1 per share in favour of Abu Dhabi Capital Management, the parent company of Abu Dhabi Financial Group (ADFG).
Earlier this day, the DFM said that a direct deal was executed on Shuaa Capital’s stock at a total value of AED 1.397 billion.
