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Dubai-based investment bank Shuaa Capital said its Kuwait-based subsidiary Amwal International Investment Co. has agreed to sell its 51% stake in NCM Investment (Kuwait), an online brokerage, for 200 million dirhams ($54.4 million).
The sale is expected to close in Q4 2022 and will have a positive impact on Shuaa Capital's financials for the quarter, the Dubai Financial Market-listed company said in a regulatory filing.
The sale is subject to regulatory approvals, it added
(Writing by Brinda Darasha; editing by Daniel Luiz)