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Meraas awards $544m contract

It has been awarded for construction of Design Quarter at d3

Salik 2024 net profit before taxes $348m

The toll operator's revenue increased by 6% to $626 million.

ADNIC okays 45% dividend for 2024

The company achieved its highest ever revenue and net profit.

stc net profit for 2024 $6.58bn

This is an increase of 85.7 percent over the previous year.

e& reports $2.94 billion in net profit

e&’s subscriber base rose 11.7% to 189.3m

Shuaa Capital CEO now owns 30 percent of the firm

SHUAA Capital approves launch of MCB tranches. (WAM)
By TRENDS Desk
September 12, 2021 3:56 pm
  • Shares were sold by Shine Investments in Commercial Projects
  • In 2019, Shuaa Capital, which has $14 billion in assets under management, merged with Abu Dhabi Financial Group (ADFG) in 2019

The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal stake close to 30 percent in the company.

In a statement to the Dubai Financial Market, where its stock trades, Shuaa Capital said Shine Investments in Commercial Projects LLC was the seller of the shares to Alseddiqi and other investors. Following the sale Shine no longer holds any shares in Shuaa.

In 2019, Shuaa Capital, which has $14 billion in assets under management, merged with Abu Dhabi Financial Group (ADFG) in 2019. Alseddiqi, who is also the CEO of ADFG, is currently the chairman of Gulf Finance House, Eshraq Investments, Khaleeji Commercial Bank among others.

He also serves on the boards of First Abu Dhabi Bank (FAB), Abu Dhabi Capital Group, ADNOC Distribution and Dana Gas.

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