Managing Director of the Emirati Shuaa Capital Group for CNBC Arabia:
We launched a fund to acquire Stanford Marine in 2020 during the pandemic
Today we complete the acquisition of Allianz and expect the synergy with Stanford to form the fourth largest offshore oil and gas services fleet.
Hedging against inflation is through investing in energy and real estate
Today, I was announced to join the board and was appointed as a managing director of the group
– The amount of assets under management of the group is 13 billion dollars, and we expect to acquire more assets in the near future
– SPACs are a type of offering that we do and we find better than IPOs in the American market
– We aim to launch other SPACs if the laws and legislation in America do not change
– Currently we have SPACs listed on NASDAQ and are looking to acquire a company to list
The share of our investments in the energy sector is 30% and 60% in the real estate sector
With the new funds, we focus on investing in the energy and real estate sectors
– We hope the group’s dividend policy will continue, and it will be announced by the Board of Directors by 2022
We were able to reduce the volume of debt by 80%, which is at the lowest level compared to the rest of the companies
Jassim Al Seddiqi, managing director of Shuaa Capital Group, told CNBC Arabia that the group’s assets under management amount to $13 billion.
Work is underway to increase it in the coming period, noting that the group aims to launch SPAX companies, especially since IPOs for this type of company are often better than IPOs.
With regard to the dividend policy, Al-Siddiqi explained to CNBC Arabia that the group continues with the cash dividend policy, especially that the company enjoys good financial solvency. In addition, the group was able to reduce the size of its debts by 80%.