Dubai – Mubasher: Shuaa Capital, listed on the Dubai Financial Market (DFM), announced that a general assembly will be held on 11 September, upon which the board of directors will discuss a proposal of changing the company’s name to Abu Dhabi Financial Group (ADFG).

The general assembly will also tackle raising the number of board members to seven members instead of five, Shuaa Capital said in a bourse filing on Thursday.

Moreover, the board will also discuss the appointment of Masoud Mohamed Sherif Mahmoud as a board member, the company said.

The amendment of the company’s memorandum of association and articles of association will be also considered during the meeting.

Earlier this month, Shuaa Capital announced the completion of the merger with ADFG.

Shuaa Capital previously said it had raised its authorised capital to AED 2.535 billion from AED 1.065 billion through the issuance of nearly 1.470 billion shares at a nominal value of AED 1 per share in favour of Abu Dhabi Capital Management, the parent company of ADFG.