SHUAA Partners Acquisition Corp I
SHUAW
NASDAQ Global Market0.00
USD
+0.00
- -
CIK
0001886268
Return %
Stock
S&P500
1Y
-98.89
18.21
3Y
-99.50
64.38
5Y
-99.50
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Fawad Tariq Khan
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001886268
- Similar Companies
- Business
- SHUAA Partners Acquisition Corp I is a blank check company incorporated as a Cayman Islands exempted company. Its primary business activity is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or a similar business combination with one or more businesses or entities. The company does not have significant operations of its own but is formed to target a business combination primarily within the technology or tech-enabled financial services (fintech) sectors, focusing on high-growth markets in the Middle East, North Africa, and Turkey (MENAT) region. It initially went public by offering units that included Class A ordinary shares, public shares, and warrants. Recent major developments include SHUAA Partners Acquisition Corp I announcing on November 14, 2023, that it would be unable to consummate an initial business combination and intends to dissolve and liquidate in accordance with its governing documents. This decision followed an extensive search for a suitable target, considering market conditions and transaction quality for shareholders. Consequently, the company cancelled its public shares and suspended trading by mid-November 2023, proceeding with liquidation steps including the disbursement of funds from its trust account. SHUAA Partners Acquisition Corp I was formed with the intent to leverage market opportunities in the MENAT region's fintech or tech sectors, but due to challenges in finding an acceptable business combination, it will cease operations. While SHUAA Partners Acquisition Corp I itself is a blank check company, it is important to distinguish it from SHUAA Capital PSC, a Dubai-headquartered asset management and investment banking platform active in the MENA region offering traditional investment banking, securities services, and asset management services. Founded in the recent years before its IPO, SHUAA Partners Acquisition Corp I was headquartered as a Cayman Islands exempted company, with a focus on effecting a high-quality merger or acquisition in the targeted tech sectors. It does not list subsidiaries or product manufacturing but functions purely as a special purpose acquisition company (SPAC) aiming at growth through strategic business combinations which, however, did not materialize before its planned liquidation. In summary, SHUAA Partners Acquisition Corp I specializes in facilitating business combinations within tech-focused sectors in MENAT but announced liquidation in late 2023 after not securing a suitable business partner to complete a merger or acquisition.