Dubai – Mubasher: Al Ramz Corporation Investment and Development (Al Ramz) has successfully reached progress regarding the acquisition of a Dubai-based securities brokerage firm.
The total value of the acquisition transaction amounted to AED 24.6 million, Al Ramz said in a statement to the Dubai Financial Market (DFM) on Sunday.
Finalising the deal is subject to obtaining regulatory approvals, the UAE’s leading investment firm added.
In the first quarter of 2019, Al Ramz turned to losses after incurring AED 12.5 million, against a profit of AED 12.8 million in Q1-18
