Cairo – Mubasher: SHUAA Securities Egypt will be one of the biggest traders on the Egyptian Exchange (EGX) by the end of this year, chairman of Dubai-based SHUAA Capital Jassim Al-Seddiqi said in an interview with Reuters.
The Emirati financial services provider has been working on re-launching its business in Egypt over the past six years, Al-Seddiqi added, pointing out that the company’s current ranking is the 18th among brokerages operating in the North African nation.
He stressed that SHUAA will be one of the five largest firms in the Egyptian market by the end of 2018 in terms of active securities transactions, on which SHUAA Capital will be the Middle East’s first investment bank.
He also projected the company to turn into an investment bank in the Arab world's most populous country in 2018.
“We are currently working on obtaining licenses to provide financial consulting services, promotions, initial public offerings (IPOs) coverage, and assets management this year,” he continued.
SHUAA Capital is looking forward to implementing dual-listing transactions for a number of Egyptian companies in the UAE and vice versa, Alseddiqi said.
