Dubai-listed investment bank and asset manager Shuaa Capital's top shareholder Jassim Alseddiqi is stepping down as managing director and selling his nearly 30% stake, he said on Monday.
last year completed a $100 million initial public offering of a special purpose acquisition company on New York's Nasdaq exchange.
"In line with this transition and my evolving direction and endeavours, I've decided to reposition my stake in SHUAA Capital, paving the way for new shareholders."
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