Shuaa Capital plans to list two companies on the Dubai Financial Market

0
21


Sources said that Shuaa Capital is considering offering two of its subsidiaries for public subscription on the Dubai Financial Market.

She explained that the investment bank and the asset manager of “Shuaa Capital” are in talks with the Dubai Financial Market regarding the listing of “Stanford Marine Group” and “NMC Investment”; According to Bloomberg.

She added that Shuaa Capital aims to list the two companies early next year, and talks are underway to hire investment banks as bookrunners, indicating that the total value of assets is about two billion dirhams.

Stanford Marine Group operates a fleet of offshore supply vessels for the oil and gas industry.

Grandweld owns a shipyard that serves offshore clients.

Shuaa initially restructured the company this year by completing a debt purchase deal worth 1.13 billion dirhams.

With regard to “NMC Investment”, it is an online trading platform, based in Kuwait, and expanding in South and East Asia. It is a subsidiary of Amwal International Investment Company, which is owned by Shuaa.

Shuaa Capital’s net profit during the first half of 2021 recorded its highest level in the last ten years, with a significant growth of 54 million dirhams, compared to 5 million dirhams during the first half of 2020.

The company achieved a net profit attributable to shareholders in the second quarter of 2021 of AED 29 million, an increase of 17 percent on a quarterly basis.

Google Newsstand

Follow our latest local and sports news and the latest political and economic developments via Google news

Share

Print








LEAVE A REPLY

Please enter your comment!
Please enter your name here