2023-10-10 12:46:16
Muhammad Shaker – Mubasher: The shares of Shuaa Capital, listed on the Dubai Financial Market, declined at the close of trading on Tuesday, recording the lowest closing since listing.
At the end of today’s trading, the stock declined by 6.97 percent to a price of 0.271 dirhams.
According to market data, the stock witnessed transactions with a volume of 77.269 million shares worth 21.455 million dirhams, distributed over 552 transactions.
At the end of trading on Monday, the stock fell by 9.88 percent to the level of 0.301 dirhams, attracting liquidity of 9.8 million dirhams on 32.6 million shares.
Shuaa Capital announced earlier its intention to increase the issued capital through the issuance of priority rights following the initial approval of the Board of Directors.
The priority rights will be issued immediately following the capital reduction and exchange offer to holders of bonds due in October 2023, subject to obtaining the necessary approvals from the company’s shareholders and relevant regulatory authorities.
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