Abu Dhabi Financial Group, SHUAA Capital complete merger
SHUAA Capital has announced the completion of the merger with Abu Dhabi Financial Group and the raising of its authorized capital from $ 289,9 to $690,3, following final regulatory approvals.
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 Shiaa, 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.
source: Gulf News