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Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

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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