SHUAA Capital Reports Preliminary 2024 Results and Secures AED 85 million in Commitments for Mandatory Convertible Bond Issuance

SHUAA Capital psc (DFM: SHUAA), the region’s leading asset management and investment banking platform, today announced its preliminary financial results for the fiscal year ended December 31, 2024.

The results reflect the significant progress made throughout the year to complete the impairment of legacy assets and reposition the business for profitable growth.

SHUAA Capital has also announced AED 85 million in binding commitments for its planned Mandatory Convertible Bond (MCB) issuance. The issuance is set to launch following shareholders and regulatory approvals and is expected to be finalized by the end of March 2025. This marks the final step in the company’s capital optimization strategy.

Going forward, the company will focus on sustainable growth and value creation for its shareholders.

Wafik Ben Mansour, Group CEO of SHUAA Capital, said: “2024 has been a challenging but a rewarding year for SHUAA Capital. Our capital optimization plan is near completion, providing a robust foundation for the company’s future growth. The positive investor interest and feedback received for our MCB issuance is a testament to the progress we have made, and we look forward to concluding this process before 31 March 2025.”