The transaction brings together two leading and complementary brokerage firms. Al Ramz Securities is one of the top 5 brokerages firms in the UAE, with a large share of the retail market, and NFBC is a leading brokerage firm focusing primarily on the institutional market.
NFBC will become a separate subsidiary of Al Ramz Securities focusing on institutional UAE and international clients in exchange for Invest AD becoming a strategic shareholder in the enlarged Al Ramz Securities. As part of the transaction, Invest AD will be represented on the Board of Al Ramz Securities and also remain represented on the board of NFBC.
The merged business will create a firm better positioned to grow market share through combined expertise and business synergies. Al Ramz Securities and NFBC will benefit from each other’s best practices and, independently from each other, serve their respective client bases: retail clients and institutions respectively.
Nazem Fawwaz Al Kudsi, Chief Executive Officer of Invest AD, comments:
“In a short space of time, NFBC has been transformed into a high quality institutional brokerage, attracting corporate and government business alike. As part of Al Ramz Securities, NFBC can now take the next step in building its institutional franchise. As a new shareholder of Al Ramz Securities, Invest AD looks forward to supporting the growth of the UAE’s most dynamic brokerage firm.”
Mohammed Mortada Al Dandashi, Partner and MD of Al Ramz Securities, said, “Al Ramz Securities boasts a strong heritage in brokerage and has built a solid reputation as a leading player in the securities market. Since its establishment in 1998, Al Ramz has continuously enhanced its products and services, making them accessible to customers through its extensive network of branches. It is with great enthusiasm that we welcome Invest AD as a new strategic shareholder and business partner, which will enhance and strengthen our presence in the UAE & regional markets. Through this partnership we aim to realize our goals and gain a competitive edge.”
Invest AD was advised by its Investment Banking Advisory arm, while PWC advised Al Ramz.
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