SHUAA Capital

SHUAA Capital psc
Public shareholder company
Traded as DFM: SHUAA
Industry Financial services
Founded 1979
Headquarters Dubai,United Arab Emirates
Key people
 His Highness Sheikh Maktoum Hasher Al Maktoum
(executive chairman)
Hamad Abdulaziz Al Sagar
(vice chairman)
Revenue AED116.2 million (H1 2014)[1]
Subsidiaries See below
Website www.shuaa.com

SHUAA Capital (DFM: SHUAA), is a Dubai-based financial services provider.[2] The Company was established in the United Arab Emirates in 1979 and has operations in the UAE and Saudi Arabia.[3]

SHUAA is a public shareholding company regulated by the Central Bank of the United Arab Emirates and listed on the Dubai Financial Market. It had a market capitalisation of 1,214 million, as of 21 January 2014.[4] SHUAA focuses on four core areas: Asset Management, Investment Banking, Capital Markets and Credit.

History

  • SHUAA was established in the UAE in 1979 as the Arabian General Investment Corporation (AGICO)[5] by Emiri Decree number 6 of HH Sheikh Rashid Al Maktoum. Initially, AGICO pooled capital from regional Chambers of Commerce and invested it across the region. The Company was listed on the Kuwait Stock Exchange in 1984.[6]
  • In 2000, it listed on the Dubai Financial Market.[7]
  • In 2001, AGICO completed a name and identity change to SHUAA Capital - SHUAA is the Arabic acronym for Arabian General Investment Company.[8]
  • Between the period of 2003 and 2007, SHUAA was involved in a number of IPOs for regional companies including Arabtec,[9] Amlak Finance,[10] Aramex,[11] Petrofac,[12] Air Arabia,[13] Deyaar [14] and DP World [15]
  • In 2007 SHUAA opened offices in Saudi Arabia[16] and issued an AED 1.5 billion (US$408.72 million) convertible bond to Dubai Banking Group, which on maturity in October 2008, was to convert to 250 million shares, representing a 32 per cent stake.[17]
  • Following the global economic downturn, an agreement on the restructuring of the convertible bond with Dubai Banking Group was reached on 2 September 2009 when 515,000,000 shares were issued to Dubai Banking Group. The agreement was based on revised terms and in consideration for the extinguishment of the issued bond, thus giving the Dubai Banking Group a shareholding of 48.4 per cent in SHUAA.[18]
  • In 2010 SHUAA embarked on a restructuring process which included divesting from non-core assets and strengthening its balance sheet.[19]
  • SHUAA continued the restructuring of its cost base in 2011 under a management team led by HH Sheikh Maktoum Hasher Al Maktoum,[20] exiting its retail brokerage division and non-core investments.[21] It also closed some regional branch and representative offices and refocused its research department for institutional clients.[22]
  • As a result of the vast restructuring program, SHUAA turned a profit of AED 1.3 million [23] in the second quarter of 2013. On January 13, 2014 the company reported preliminary results for 2013 and a net profit of AED 2.8 million.[24]

Business Segments

Asset Management

SHUAA Asset Management is regulated by the DFSA.[25] It manages proprietary and third party Funds as well as Discretionary Portfolios for High Net Worth Individuals and Institutions.[26] SHUAA Asset Management's Gateway Fund[27] series hold the longest track records for equity funds in the region.[28]

Investment Banking

The Investment Banking team provides corporate finance advisory, equity and debt capital markets, mergers and acquisitions expertise, private placements, structured investments and other services.[29]

Credit

SHUAA’s wholly owned subsidiaries, Gulf Finance Corporation (GFC)[30] and Gulf Installments Company (GIC)[31] provide SMEs in the UAE and Saudi Arabia with access to funding through asset finance, corporate deposits, invoice finance, financial guarantees and small business loans.

Capital Markets

SHUAA’s Capital Markets division[32] includes institutional sales and trading to it High Net Worth Individuals, family offices and institutional clients. Capital Markets provides global market access and execution, portfolio advisory services, settlement financing and margin facilities.

References

  1. ↑ "H1 2014 financial statement" (PDF). Retrieved 11 May 2014.
  2. ↑ "Company Profile for SHUAA Capital PSC (SHUAA)". Bloomberg. Retrieved 2 October 2013.
  3. ↑ http://www.prnewswire.com/news-releases/new-shuaa-strategy-and-logo-presented-to-financial-community-172953791.html /
  4. ↑ "SHUAA:DFM Stock Quote - SHUAA Capital PSC". Bloomberg.
  5. ↑ psc, SHUAA Capital. "New SHUAA Strategy and Logo Presented to Financial Community". www.prnewswire.com. Retrieved 2018-05-31.
  6. ↑ Smith, Matt (2009-01-08). "Shuaa delists from Kuwait bourse to boost liquidity". Emirates 24|7. Retrieved 2018-05-31.
  7. ↑ Smith, Matt (2009-01-08). "Shuaa delists from Kuwait bourse to boost liquidity". Emirates 24|7. Retrieved 2018-05-31.
  8. ↑ psc, SHUAA Capital. "New SHUAA Strategy and Logo Presented to Financial Community". www.prnewswire.com. Retrieved 2018-05-31.
  9. ↑ Reporter, A Staff (2004-08-10). "Decks cleared for Dh220m Arabtec IPO". GulfNews. Retrieved 2018-05-31.
  10. ↑ Reporter, A Staff. "Amlak IPO opens today". www.khaleejtimes.com. Retrieved 2018-05-31.
  11. ↑ Reporter, C.L. Jose, Staff (2004-11-02). "Logistics company Aramex decides to launch IPO". GulfNews. Retrieved 2018-05-31.
  12. ↑ http://www.ameinfo.com/70442.html
  13. ↑ "Air Arabia to soar, says Shuaa". ArabianBusiness.com. Retrieved 2018-05-31.
  14. ↑ Report, Staff (2007-06-04). "Shuaa Capital allocates Deyaar IPO shares". GulfNews. Retrieved 2018-05-31.
  15. ↑ "DP World raises $5bn in Gulf's biggest IPO". ArabianBusiness.com. Retrieved 2018-05-31.
  16. ↑ Writer, Staff (2008-03-12). "Shuaa gets licence for Saudi operations". Emirates 24|7. Retrieved 2018-05-31.
  17. ↑ Report, Staff (2007-09-04). "Shuaa Capital gets ready to issue convertible bonds". GulfNews. Retrieved 2018-05-31.
  18. ↑ "Shuaa and DBG settle bond dispute". The National. Retrieved 2018-05-31.
  19. ↑ http://www.zawya.com/story/Dubais_Shuaa_Capital_Back_In_Black_After_Restructuring-GN_26072011_270722/
  20. ↑ "Fixer aims to revitalise the loss-making Dubai bank Shuaa". The National. Retrieved 2018-05-31.
  21. ↑ "SHUAA unveils strategic, operational and financial roadmap - Business Intelligence Middle East - bi-me.com - News, analysis, reports". www.bi-me.com. Retrieved 2018-05-31.
  22. ↑ Basit, Abdul. "Shuaa earnings hit by unit restructuring". www.khaleejtimes.com. Retrieved 2018-05-31.
  23. ↑ Mathew, Shaji (6 August 2013). "Dubai's Shuaa Returns to Profit After Seven Quarters of Losses". Bloomberg.
  24. ↑ "Turnaround in fortunes for UAE's Shuaa Capital". The National. Retrieved 2018-05-31.
  25. ↑ http://www.difc.ae/shuaa-capital-international-ltd
  26. ↑ "Interview with Haissam Arabi, Head of Asset Management, SHUAA Capital psc". www.eurekahedge.com. Retrieved 2018-05-31.
  27. ↑ "FE Trustnet Middle East". www.trustnetmiddleeast.com. Retrieved 2018-05-31.
  28. ↑ MENAFN. "SHUAAs Emirates Gateway Fund named best UAE Equity Fund". Retrieved 2018-05-31.
  29. ↑ "The National - The Middle East. Explained". The National. Retrieved 2018-05-31.
  30. ↑ "Gulf Finance to provide over 10% of SME's asset financing needs in the UAE in 2013 - Business Intelligence Middle East - bi-me.com - News, analysis, reports". www.bi-me.com. Retrieved 2018-05-31.
  31. ↑ "Dubai's Shuaa Launches Saudi Lease Financing Company - Gulf Business". Gulf Business. 2013-02-03. Retrieved 2018-05-31.
  32. ↑ psc, SHUAA Capital. "New SHUAA Strategy and Logo Presented to Financial Community". www.prnewswire.com. Retrieved 2018-05-31.
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