SHUAA Capital Appointed Exclusive Financial Advisor for Salama’s Capital Restructuring and Mandatory Convertible Sukuk Issuance
SHUAA Capital psc (DFM: SHUAA), a leading asset management and investment banking platform in the region, has been appointed as the exclusive financial advisor to Islamic Arab Insurance Company (Salama) for its approved capital restructuring plan. This strategic transaction includes a capital reduction, followed by the issuance of a Mandatory Convertible Sukuk (MCS) aimed at strengthening Salama’s capital base and solvency position.
This mandate reinforces SHUAA’s position as a trusted advisor in the region’s capital markets and highlights the strength of its investment banking platform. It also reflects SHUAA’s strategic focus on expanding its investment banking business and growing fee-based income through high-impact advisory mandates that deliver value to clients and shareholders.
The restructuring plan, approved by Salama’s shareholders, represents a significant milestone in the company’s efforts to enhance financial resilience and support long-term growth. The upcoming MCS issuance, with a size of up to AED 175 million, will provide Salama with a robust capital structure aligned with regulatory requirements and shareholder interests.
Commenting on the mandate, Nabil Al Rantisi, Group CEO of SHUAA, said: “We are proud to advise Salama on this landmark transaction, which underscores SHUAA’s expertise in structuring innovative capital solutions and delivering value for clients. Our longstanding relationship with Salama reflects our shared commitment to strengthening the UAE’s financial and insurance sectors through strategic initiatives that drive sustainable growth.”
Both SHUAA and Salama are listed on the Dubai Financial Market, reinforcing transparency and governance throughout the process. The MCS issuance is expected to be completed in the coming months, subject to all regulatory approvals.
