Dubai, November 06, 2007
Rasmala Investments Holdings announced that it has been granted the official approval by the Saudi Capital Markets Authority to expand its services in Saudi Arabia to include private equity, mergers and acquisitions, IPO advisory, asset management and brokerage
Commenting on this development, Mr. Ali al Shihabi, Founder and CEO of Rasmala, said: “This recent approval will strengthen Rasmala’s position in Saudi Arabia, the biggest regional market. Rasmala Investments (Saudi Arabia) Ltd. will now play a bigger role in servicing our clients in Saudi and creating a regional and international investment platform for them”.
Rasmala announced last week that it has acquired 51% of the Delta Financial Group in Egypt. This will strengthen Rasmala’s regional reach by giving the firm a strong presence, on the ground, in the biggest economies in the region – Saudi Arabia, the UAE and Egypt.