SHUAA Capital acquires stake in Kuwait-based Amwal

SHUAA Capital, a Dubai-based integrated financial services firm, has announced it owns 14,491,378 shares in Kuwait-based Amwal International Investment (Amwal) representing about 8 percent of the company. Furthermore Gulf Finance Corporation, a SHUAA Capital subsidiary, owns about 3 percent of Amwal.
Amwal is a Kuwait-listed investment firm whose primary investment includes a 51 percent 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.
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 active market maker in the UAE and recently announced its continued growth and support of the Nasdaq Dubai Futures Market, which recorded a 76 percent increase in trade month on month in June.