SHUAA Capital has announced the completion of the merger with Abu Dhabi Financial Group and the raising of its Authorized Capital from AED1.065 billion (289 million dollars) to AED2.535 billion (690.3 million dollars) following final regulatory approvals on the transaction with ADFG, Emirates News Agency reported on Sunday.
This comes following the admission of 1,470 billion new shares on the Dubai Financial Market in favor of ADFG’s parent company and strategic investor in SHUAA, Abu Dhabi Capital Management LLC, it said.
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, the agency added.
