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 after 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, after 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 after Direct Access Investment, which owns about 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 through a private deal, bringing his direct ownership to 26% of the company’s capital.
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2023-08-16 05:03:44
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