2023-08-16 05:03:44
Dubai – Mubasher: Shuaa Capital announced that Jassim Al Siddiqi’s share has decreased to 21 percent of the company’s capital, which he indirectly owns.
Shuaa indicated that this comes following he sold a share of 71.5 million shares through a private deal.
The ownership of the former board member was around 25% before he announced his resignation.
Al-Siddiqi was the managing director of the company, following he led the Abu Dhabi Financial Group from its founding in 2011 until its merger with Shuaa.
According to the Dubai Financial Market, Al-Siddiqi owned approximately 25.3% of the capital of “Shuaa” company, on August 14, and he is the second highest single shareholder in the company following “Direct Access Investment”, which owns regarding 27.3%.
An earlier disclosure in late June indicated that Al-Siddiqui had sold part of his stake in the company through a private deal.
In May, Shuaa announced that Al-Siddiqi had sold 100 million shares in a private transaction; His ownership reaches 26% of the company’s capital directly.
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