Shuaa's shares rocket as company announces merger talks with Abu Dhabi Financial Group | ZAWYA MENA Edition:
Shares in Dubai-listed investment bank Shuaa Capital surged on Sunday after the company confirmed to the exchange media reports about initial discussions for a merger with its major shareholder, Abu Dhabi Financial Group.
The investment bank’s statement said that discussions have commenced with Abu Dhabi Financial Group “regarding the possibility of a merger of the two institutions to become a larger, financial listed firm".
Television station Al-Arabiya had reported the news earlier in the day, citing sources. The statement said the structure of the conbined entity would be "subject to legal and regulatory consent.”
No comments:
Post a Comment