Arqaam Capital (“Arqaam”), the emerging markets investment bank, announced today that it has reached an agreement to acquire Al Rashad Finance and Management Advisory JSC (“Rashad”).
The purchase agreement includes the business, operations and financial services licence of Rashad.
Following the close of the acquisition, the company will operate under the name Arqaam Capital Libya. Rashad has obtained initial approval for a financial services licence from the Libyan Stock Market and will request that the company’s final licence will allow the company to buy and selling securities; advise on investments in securities; manage security portfolios and investment funds; promote subscriptions in securities; margin funding; and proprietary trading.
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