By: Mahmoud Gamal

Dubai – Mubasher: SHUAA Capital’s stock rose by more than 9% in Thursday’s mid-session, following news of acquiring two companies.

SHUAA entered into an agreement with Integrated Financial Group (IFG) towards the acquisition of Integrated Capital and Integrated Securities.

The stock rose 9.09% to AED 1.32 by 12:14 pm UAE time, with a turnover of AED 23.13 million generated from the exchange of 17.89 million shares.

The stock saw speculations amid acquisition news as well as appearance of indicators that the company’s operations are improving, financial analyst Mahmoud Ziad told Mubasher.

The stock saw strong purchases that may push it to reach AED 2, Ziad added.

Translated by: Julian Nabil