Shuaa Capital Executes Agreement for Acquisition of Integrated Capital and Integrated Securities

Business

Shuaa Capital Executes Agreement for Acquisition of Integrated Capital and Integrated Securities

SHUAA Resources, the UAE's premier integrated financial services company, today revealed it has actually participated in an agreement with Integrated Financial Group (" IFG"), towards the procurement of Integrated Funding and Integrated Stocks. The finalizing of the contract follows the conclusion of the due-diligence process initiated in March. The calculated procurement, which remains based on governing authorizations, of 2 of the UAE's most energetic and effective banks will bring better synergies, enhancing SHUAA Capitals collection of product or services, and enabling it to expand its footprint.

Integrated Securities, which IFG obtained from First Gulf Bank in 2014, ranks within the top 10 by volume traded in the UAE. It gives SHUAA over 3,000 clients and over AED 15bn shares in guardianship which would certainly place SHUAA to provide one of the leading brokerage firm platforms in the region, and will also function as a base for expansion.

In a brief timespan, Integrated Funding quickly expanded and acquired a leading position in the region's high return repaired revenue market. In 2016, it was co-lead on the $500m bond issuance by Etihad Airways Partners and was likewise the largest client to the original $700m issuance in September 2015. Integrated Funding will certainly combine with SHUAA's creating funding markets business which offers accessibility to regional and international safeties on the key and additional markets.

These enhancements and enhancements to SHUAA are planned to offer a much broader series of financial investment options for existing and new clients. On the occasion of signing the agreement, Jassim Alseddiqi, Chairman of SHUAA Funding claimed: "SHUAA Capital is pleased to introduce it has actually reached the following phase in this acquisition procedure. We have actually extensively considered all our critical options and firmly think this deal will certainly advertise a new chapter for the Group, and for the economic services landscape in the MENA region overall. The mix of these brand names serves the interest of our shareholders, and guarantees to develop a new economic force. We eagerly anticipate passing the final stage by receiving green light from the respective regulatory authorities".

Fawad Tariq-Khan, General Manager of SHUAA Resources said, "This procurement notes a considerable milestone for SHUAA Capital on its go back to prestige as the region's leading incorporated economic services company. We look forward to the numerous opportunities and included worth that this consolidated entity will certainly give SHUAA's stakeholders."