Eshraq Investments has announced receipt of a certificate from the Securities & Commodities Authority (SCA) bringing it a step closer to completing the acquisition of Shuaa Capital’s Goldilocks Fund.
The Abu Dhabi-listed company said it had received the certificate from the UAE markets regulator regarding the amendment of the clause of the capital in the memorandum of association in execution of the acquisition.
“Eshraq expects to complete the decrease of the capital and the issuance of the new shares in the coming days,” the company said in a statement to Abu Dhabi Securities Exchange (ADX) today.
The company first announced its intention to acquire the fund in a share swap deal last March.
(Reporting by Imogen Lillywhite; editing by Cleofe Maceda)