31 July 2017
United Arab Emirates, 31 July 2017: SHUAA Capital, the UAE’s premier integrated financial services firm, today announced it owns 14,491,378 shares in Kuwait-based Amwal International Investment (“Amwal”) representing circa 8% of Amwal. Furthermore Gulf Finance Corporation, a SHUAA Capital subsidiary, owns circa 3% of Amwal.
Amwal is a Kuwait-listed investment firm whose primary investment includes a 51% stake in Noor Capital Markets, an online trading platform providing access to clients seeking to invest in CFDs (Contracts for Difference), Futures, Metals and Currencies.
Commenting on the investment, Fawad Tariq-Khan, General Manager of SHUAA Capital said: “This is one of several strategic investments that build upon SHUAA’s evolution strategy, and helps take the region’s financial services landscape to a new level. We see potential for great value in Amwal and synergies between our capital markets offering and access to Noor Capital Markets trading platform.”
SHUAA Capital has been expanding its capital markets platform both through its recent agreements to acquire Integrated Securities and Integrated Capital as well as expanding its offerings to clients. SHUAA is the largest and most active Market Maker in the UAE and recently announced its continued growth and support of the Nasdaq Dubai Futures Market which recorded a 76 per cent increase in trade month on month in June.