SHUAA Capital PSC

Ticker/ISIN
SHUAA
AES000101015
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
0.13 AED
2024-03-29

Year to date

-0.17 %

3 months

0.31 %

6 months

-0.25 %

1 year

-0.56 %

3 years

0.31 %

5 years

0.31 %

Country of Origin: United Arab Emirates (U.A.E)

SHUAA Capital P.S.C. is a Public Shareholding Company established in Dubai, United Arab Emirates, pursuant to Emiri Decree No. 6 of 25 April 1979 and in accordance with the Federal Law No. (8) of 1984 (as amended).

 

SHUAA Capital P.S.C. (“SHUAA“) is a leading asset management and investment banking platform, recognized for its strong track record and pioneering approach to investing through a differentiated, innovative and global product offering focused on public and private markets, debt and real estate.  The asset management segment, one of the region’s largest, manages real estate funds and projects, investment portfolios and funds in the regional equities, fixed income and credit markets; it also provides investment solutions to clients, with a focus on alternative investment strategies. The investment banking segment provides corporate finance advisory, transaction services, private placement, public offerings of equity and debt securities, while also creating market liquidity on OTC fixed income products. SHUAA is regulated as a financial investment company by the Emirates Securities and Commodities Authority.

Latest Pressrelease Summaries

SHUAA Capital PSC
SHUAA Capital announced its first quarter financial results for 2024, showing significant improvements. The company reported an adjusted net operating income of AED 5 million, reversing a previous loss of AED 14 million. The operating margin improved to 16% from a negative 29%. SHUAA continued its balance sheet optimization, including asset valuation adjustments and impairments of legacy investments, and reached an agreement with bondholders to reduce debt by over AED 500 million. The company is focused on issuing Mandatory Convertible Bonds and expects to finalize its capital optimization plans by the end of 2024. SHUAA is transforming its business model to focus on Asset Management and Investment Banking, supported by a strong Sales and Distribution platform. New senior appointments were announced, including Wafik Ben Mansour as CEO and Roberta Calarese as Chief Legal Officer. The company aims to enhance shareholder value and will provide regular updates on its progress. Key financial metrics for Q1 2024 include revenues of AED 30 million, an adjusted net operating income of AED 5 million, and a net loss of AED 87 million.
SHUAA Capital PSC
SHUAA Capital psc reported accumulated losses of AED 916 million for Q1 2024, representing 36.12% of its capital. The losses stem from several factors, including fair value losses due to impairments in investments, goodwill, and receivable write-offs related to its UK investments and legacy real estate assets. Additional losses were due to valuation adjustments of an associate’s underlying asset, the recognition of a deferred tax liability following the implementation of corporate tax law in the UAE, and write-offs from revised land valuations in the UAE. Fair value losses from investments in public market securities and managed investments also contributed. To address these accumulated losses, SHUAA Capital has initiated capital optimization measures. The company has secured an agreement with noteholders to amend the terms of its USD 150 million bonds, issued by an affiliated special purpose vehicle (SPV). This agreement allows bondholders to convert a portion of their bonds into equity through the issuance of Mandatory Convertible Bonds (MCB), with any remaining bonds potentially being settled at a discount in cash.
SHUAA Capital PSC
SHUAA Capital PSC and its subsidiaries have released their condensed consolidated interim financial information for the period from January 1, 2024, to March 31, 2024.
SHUAA Capital PSC
Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 16, 2024, Shuaa Capital's Board of Directors made decisions by circulation, including the approval of the company's consolidated and reviewed financial statements for the period ending March 31, 2024, and other company-related matters. The communication was addressed to Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market. The notice was signed by Islam Mahrous, Chief Compliance Officer.
SHUAA Capital PSC
Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 10, 2024, Shuaa Capital informed Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market, that the company's Board of Directors will make decisions by circulation on Tuesday, July 16, 2024. The agenda includes the approval of the consolidated and audited financial statements for the period ending March 31, 2024, and other company-related matters. The notice was signed by Islam Mahrous, the Chief Compliance Officer.
SHUAA Capital PSC
شعاع كابيتال ش.م.ع.، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع في الإمارات العربية المتحدة، أعلنت عن تعيين السيدة روبيرتا كريس في منصب رئيس الدائرة القانونية اعتباراً من تاريخ 1 يوليو 2024.
SHUAA Capital PSC
Shuaa Capital PSC held its annual general meeting on June 28, 2024, at 10:00 AM. During the meeting, shareholders voted and approved several ordinary resolutions: 1. Approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2023. 2. Approval of the auditor's report for the fiscal year ending December 31, 2023. 3. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2023. 4. Approval of the Board of Directors' proposal not to distribute cash dividends for the fiscal year ending December 31, 2023. 5. Approval to discharge the following Board members from liability for the fiscal year ending December 31, 2023: - Fadel Al Ali - Andre Sayegh - Morshed Al Redaini
SHUAA Capital PSC
شعاع كابيتال ش.م.ع، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع، أعلنت أن مجلس إدارتها قد وافق على قرارات متعلقة بأعمال الشركة. المكتب الرئيسي للشركة يقع في فندق "ذا إتش"، برج المكاتب، الطابق 15، مكتب رقم 1502، دبي، الإمارات العربية المتحدة.

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Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Press release regarding financial results for the first QTR of 2024

SHUAA Capital announced its first quarter financial results for 2024, showing significant improvements. The company reported an adjusted net operating income of AED 5 million, reversing a previous loss of AED 14 million. The operating margin improved to 16% from a negative 29%. SHUAA continued its balance sheet optimization, including asset valuation adjustments and impairments of legacy investments, and reached an agreement with bondholders to reduce debt by over AED 500 million. The company is focused on issuing Mandatory Convertible Bonds and expects to finalize its capital optimization plans by the end of 2024. SHUAA is transforming its business model to focus on Asset Management and Investment Banking, supported by a strong Sales and Distribution platform. New senior appointments were announced, including Wafik Ben Mansour as CEO and Roberta Calarese as Chief Legal Officer. The company aims to enhance shareholder value and will provide regular updates on its progress. Key financial metrics for Q1 2024 include revenues of AED 30 million, an adjusted net operating income of AED 5 million, and a net loss of AED 87 million.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Detailed Analysis Accumulated Losses

SHUAA Capital psc reported accumulated losses of AED 916 million for Q1 2024, representing 36.12% of its capital. The losses stem from several factors, including fair value losses due to impairments in investments, goodwill, and receivable write-offs related to its UK investments and legacy real estate assets. Additional losses were due to valuation adjustments of an associate’s underlying asset, the recognition of a deferred tax liability following the implementation of corporate tax law in the UAE, and write-offs from revised land valuations in the UAE. Fair value losses from investments in public market securities and managed investments also contributed. To address these accumulated losses, SHUAA Capital has initiated capital optimization measures. The company has secured an agreement with noteholders to amend the terms of its USD 150 million bonds, issued by an affiliated special purpose vehicle (SPV). This agreement allows bondholders to convert a portion of their bonds into equity through the issuance of Mandatory Convertible Bonds (MCB), with any remaining bonds potentially being settled at a discount in cash.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Financial statements for the 1st QTR of 2024

SHUAA Capital PSC and its subsidiaries have released their condensed consolidated interim financial information for the period from January 1, 2024, to March 31, 2024.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Results of Board Decisions by Passing

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 16, 2024, Shuaa Capital's Board of Directors made decisions by circulation, including the approval of the company's consolidated and reviewed financial statements for the period ending March 31, 2024, and other company-related matters. The communication was addressed to Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market. The notice was signed by Islam Mahrous, Chief Compliance Officer.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Board Decisions by Passing

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 10, 2024, Shuaa Capital informed Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market, that the company's Board of Directors will make decisions by circulation on Tuesday, July 16, 2024. The agenda includes the approval of the consolidated and audited financial statements for the period ending March 31, 2024, and other company-related matters. The notice was signed by Islam Mahrous, the Chief Compliance Officer.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Notification from the company

شعاع كابيتال ش.م.ع.، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع في الإمارات العربية المتحدة، أعلنت عن تعيين السيدة روبيرتا كريس في منصب رئيس الدائرة القانونية اعتباراً من تاريخ 1 يوليو 2024.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Resolutions of General Assembly

Shuaa Capital PSC held its annual general meeting on June 28, 2024, at 10:00 AM. During the meeting, shareholders voted and approved several ordinary resolutions: 1. Approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2023. 2. Approval of the auditor's report for the fiscal year ending December 31, 2023. 3. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2023. 4. Approval of the Board of Directors' proposal not to distribute cash dividends for the fiscal year ending December 31, 2023. 5. Approval to discharge the following Board members from liability for the fiscal year ending December 31, 2023: - Fadel Al Ali - Andre Sayegh - Morshed Al Redaini

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Integrated report for the year 2023

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Results of Board Decisions by Passing

شعاع كابيتال ش.م.ع، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع، أعلنت أن مجلس إدارتها قد وافق على قرارات متعلقة بأعمال الشركة. المكتب الرئيسي للشركة يقع في فندق "ذا إتش"، برج المكاتب، الطابق 15، مكتب رقم 1502، دبي، الإمارات العربية المتحدة.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From SHUAA Capital PSC

Disclosure: Board Decisions by Passing

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company has announced that its Board of Directors will make decisions by circulation regarding company matters on Friday, June 14, 2024. This information was communicated to Hamed Ahmed Ali, CEO of the Dubai Financial Market, by Islam Mahrous, Chief Compliance Officer.

1. Attached Document

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