Shuaa seeking to raise funds from non-core asset sales
Shuaa is seeking to raise more than AED100mn from sale of non-core assets by end of the year. The company’s CEO Fawad Khan said that the company will announce a new dividend policy soon. The company also plans to increase AUMs to AED5bn from AED3.3bn currently. Shuaa also plans to shift the focus of its financing business to secured lending. Shuaa reported a net profit of AED12.1mn for 2Q17,+124% Q-o-Q, and versus a loss of AED51mn a year ago due to significant fall in provisions.
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