Middle-east Arab News Opinion | Asharq Al-awsat

Shuaa Capital to Acquire Two Financial Firms | ASHARQ AL-AWSAT English Archive 2005 -2017
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Dubai- Shuaa Capital, headquartered in UAE, is to acquire two financial firms: Integrated Capital and Integrated Securities. The acquisition still awaits required approvals including these of the Emirati organizational authorities, stated Shuaa Capital.

It also considered this operation as a step to consolidate efficiency and coherence levels through providing better investment offers and products. In a statement, the company revealed that “Integrated Capital, licensed by the Central Bank of the UAE, plays a vital role in fixed income trading in the region.”

Shuaa Capital shares increased 11.7 per cent to Dhs1.82 following the news.

Its securities unit specializes in equities listed on the Abu Dhabi and Dubai exchanges and has more than 3,000 retail and institutional clients, Shuaa said.

Shuaa Capital’s Chairman Jassim Alseddiqi said: “Shuaa Capital is contemplating to restore its rightful position as a leader in capital markets and investment banking in the region. This is a gradual process, with an emphasis on building the right synergies and bringing the best products and services to the company’s clients, investors and stakeholders.”

The coming weeks are expected to witness the completion of this acquisition deal, knowing that in December 2016 Shuaa Capital also acquired a 14% stake in Bahrain’s Khaleeji Commercial Bank.