Dubai’s Shuaa Capital Weighs Partner or Debt in Quest for Growth - Bloomberg:
"Shuaa Capital PSC (SHUAA) may seek a joint-venture partner or raise debt to boost growth at its lending unit as the investment bank controlled by Dubai’s ruler rebuilds the business after five years of losses.
The company, which this year reported two straight quarters of profit for the first time since the financial crisis, is seeking to almost double the loan book at its Gulf Finance Corp. unit, Chairman Sheikh Maktoum Hasher Al Maktoum said in an interview in Dubai yesterday. The bank is seeking to boost lending to about 1.4 billion dirhams ($381 million), from about 800 million dirhams, according to a company presentation.
Options for growth are “either a partnership, or a partial sale, or a bond,” Al Maktoum said. “We would like cheap funding, we would like more deal flow and there are many routes to get to those things” which Shuaa is now exploring, he said."
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