Shuaa Capital completes sale of its securities and market-making businesses - The National

Shuaa Capital completes sale of its securities and market-making businesses - The National:

Shuaa Capital completed the sale of its securities and market-making businesses for Dh100 million, the company said on Monday.

The new deal comes as the group continues to implement its non-core exit strategy to focus on growing and expanding its asset management and investment banking platform.

On January 15, 2020, Shuaa announced its agreement to sell its equities market-making business to Al Ramz Corporation Investment & Development. It also sold its securities brokerage unit in the UAE to IHC RSC, a subsidiary of International Holdings Company last year.

“Both transactions were completed under the terms of an all-cash deal with a total deal value of Dh100m,” Shuaa Capital said in a statement.