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Shuaa gets approval to buy back shares
- United Arab Emirates: Thursday, November 20 - 2008 at 14:25
The UAE's largest investment bank, Shuaa Capital, has received regulatory approval to buy back 10% of its shares. In a statement, the Emirates Securities & Commodities Authority said it is allowing Shuaa to buy back as much as 55 million shares by Nov. 19 next year. Shares in Shuaa Capital have declined 77% this year.
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Jeff Florian, Senior ReporterThursday, November 20 - 2008 at 14:25 UAE local time (GMT+4)
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