The Securities and Commodities Authority has announced its approval for the capital increases of seven public joint-stock companies, amounting to nearly AED 6.8 billion during the previous year of 2024.
The authority detailed, in its latest statistics, its endorsement of a capital increase for Emirates Driving Company by AED 448.9 million, as well as for Ras Al Khaimah Properties by AED 1 billion.
Furthermore, the authority sanctioned a capital increase for Abu Dhabi Aviation by approximately AED 652 million, for Drake & Scull by AED 1.8 billion, and for NMC Energy Acquisition by around AED 2.4 billion, in addition to approving AED 185 million for Emirates Takaful and AED 354.4 million for Fujairah National Bank.
In a related context, the authority indicated that it received numerous requests for mergers, acquisitions, and strategic partnerships over the past year. Notably, it approved the acquisition deal of Skoon Insurance for the remaining shares of the Arab Scandinavian Insurance Company.
Additionally, UltraTech Cement Middle Investment acquired shares in Ras Al Khaimah White Cement and Building Materials Company, while the merger of Abu Dhabi Distribution Company and Al Ain Distribution Company was also endorsed. The merger between Yahsat and Data AI PLC was approved, as well as a request for the Ras Al Khaimah government to become a strategic partner in Ras Al Khaimah Properties.