Shuaa Capital arranges Sukuk for Gulf Navigation Holding

Acting as lead arranger on Sukuk for Gulf Navigation Holding (GNH) through a private placement.

  
Image used for illustrative purpose

Image used for illustrative purpose

REUTERS/Fadi Al-Assaad
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.

Source: Mubasher

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