The Sharjah Government has reduced its direct ownership in Invest Bank by transferring more than 47 billion shares to another public institution.
On Tuesday, the emirate confirmed that it had handed over 47,490,248,165 shares, which account for 20.48% of its holding in the Abu Dhabi-listed bank, to the Sharjah Social Security Fund (SSSF).
The transfer took place on December 30, 2024, as an off-market transaction on the Abu Dhabi Securities Exchange (ADX).
After the transaction, the Sharjah government now holds a 70.06% stake in the bank, while the SSSF’s direct shareholding stands at 18.04%. Other shareholders retain 11.9%.
In 2019, Sharjah became a significant shareholder in the bank after investing AED 1.115B for a 50.07% stake. The emirate further increased its holding through a rights issue in 2023.
