Abu Dhabi (Etihad)
Eshraq Investments announced that the acquisition of Goldilocks Fund by issuing new shares is nearing completion. The company is also working to reduce the capital from 2.325 billion dirhams to 1.427 billion dirhams to offset the accumulated losses, in addition to the subsequent capital increase towards the acquisition.
This acquisition is expected to enable Eshraq to increase its profitability, improve its share price and increase its ability to develop a strong business, in addition to creating long-term sustainable value for Eshraq’s shareholders.
In this regard, Jassim Al Seddiqi, Chairman of Eshraq Investments, said: “We are currently working hard to complete the acquisition of Goldilocks Fund. In line with the mandate given by our shareholders, we have set the wheel to improve the company’s financial performance and improve operational efficiency. We are optimistic that this acquisition will accelerate future growth opportunities and create long-term value for our shareholders. We also look forward to providing additional updates to shareholders in the coming weeks.”