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Shuaa Capital arranges AED 125m Sukuk for GNH

Shuaa Capital arranges AED 125m Sukuk for GNH
The company logged AED 186 million in EBITDA
Gulf Navigation
GULFNAV
-2.95% 0.43 -0.01
Shuaa
SHUAA
1.85% 0.66 0.01

Dubai – Mubasher: Shuaa Capital is working on a number of deals, including acting as lead arranger on AED 125 million Sukuk for Gulf Navigation Holding (GNH) through a private placement.

SHUAA’s management team is committed to continuing to deliver on the synergies and sustainable value arising from the merger with [Abu Dhabi Financial Group (ADFG)],” Shuaa’s CEO, Jassim Alseddiqi, said in a statement on Sunday.

This came during Shuaa’s first ordinary general meeting (OGM) virtually held on Wednesday, 15 April.

In 2019, the company logged AED 186 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA), including merger costs, and AED 47 million in net profits to shareholders.