SHUAA Capital Completes Acquisition of Integrated Securities and Integrated Capital Following Final Regulatory Nods

 Deal adds AED 500m+ assets under management and access to 3,000+ clients

ABU DHABI, United Arab Emirates-Tuesday, April 24th 2018 [ AETOS Wire ]

SHUAA Capital is pleased to announce the completion of its acquisition of Integrated Securities (“IS”) and Integrated Capital (“IC”), following final approval by the Emirates Securities and Commodities Authority and the Central Bank of the United Arab Emirates.

SHUAA’s current multi-pronged business strategy, which came into effect during in early 2017 and helped it return to a path of sustained long-term profitability, entails the growth and development of each of the four business lines via organic, inorganic growth and strategic cross-sell prospects.

With Integrated Securities and Integrated Capital now operating under the Group’s umbrella, SHUAA’s Assets Under Management (AuMs) will effectively grow to circa AED 4.5 billion and adds a roster of 3,000 retail and institutional clients, with AED 15bn shares in custody in its brokerage business that is now ranked in the top ten in the UAE. SHUAA will consolidate earnings from IS and IC beginning Q2 2018 for reporting purposes.

Fawad Tariq-Khan, Chief Executive of SHUAA, said “IS and IC are a natural addition to the anatomy of SHUAA Capital. Upon full integration, we expect improved synergies and efficiencies with a greater depth of investment products and offerings for our expanded client base”. He added “The expansion strategy set out under our new ownership and management is proving particularly fruitful in current times, such as entering into Egypt just as the country’s stock market experienced a significant surge in fund inflows.”

SHUAA has also confirmed its offer to acquire publicly listed Amwal International Investment Company in Kuwait is going through regulatory approvals. It is also working on a number of other potential acquisition opportunities in the region including Egypt. 

Cautionary Statement Regarding Forward-Looking Information:

This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: "anticipate," "aspire," "intend,"

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Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: Our ability to maintain adequate revenue levels and cost control; economic and financial conditions in the global markets and regional markets in which we operate, including volatility in interest rates, commodity and equity prices and the value of assets; the

implementation of our strategic initiatives, including our ability to effectively manage the redeployment of our balance sheet and the expansion of our strategic businesses; the reliability of our risk management policies, procedures and methods; continued volatility in the capital or credit markets; geopolitical events; developments and changes in laws and regulations, including increased regulation of the financial services industry through legislative action and revised rules and standards applied by our regulators.

Any forward-looking statement made by us in this document and presentation is based only on information currently available to us and speaks only as of the date on which it is made. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

About SHUAA Capital

Established in 1979, and often considered to be the oldest financial advisory and investment firm in the Middle East, SHUAA Capital psc (‘SHUAA’) is an integrated financial services firm headquartered in the United Arab Emirates. The firm services corporate and institutional clients, Governments, family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. The company operates fully operational subsidiaries in the Kingdom of Saudi Arabia and the Arab Republic of Egypt. SHUAA is a public shareholding company with its shares listed on the Dubai Financial Market. The firm is regulated as a financial investment company by the UAE Central Bank.  www.shuaa.com

Contacts

SHUAA Capital

Mohamed Tahboub, Head of Investor Relations, Corporate Communications & Marketing, +97143651872

 mtahboub@shuaa.com, ccdesk@SHUAA.com

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