Shuaa has entered into an agreement with Integrated Financial Group, a subsidiary of Abu Dhabi Financial Group, in this regard.

UAE-based Integrated Financial Group operates an online platform that provides securities trading, asset management, corporate finance, advisory, and research services.

Integrated Capital is a central bank licensed investment company that has played a leading role in fixed income transactions in the region. In 2016, it acted as the co-lead on the debut $500 million bond issuance by Etihad Airways Partners.

Integrated Securities, formerly known as First Gulf Financial Services when it was part of Abu Dhabi-based First Gulf Bank, brings to the table a securities brokerage business with over 3,000 retail and institutional clients.

Shuaa Capital said the acquisition was aimed at bringing greater synergies to investors and clients.

"It is part of Shuaa’s return to prominence as a regional investment powerhouse," remarked Jassim Alseddiqi, the chairman of Shuaa Capital.

The company, he stated, was contemplating to restore Shuaa to its rightful position as a leader in capital markets and investment banking in the region.

"This is a gradual process, with an emphasis on building the right synergies and bringing the best products and services to the company’s clients, investors and stakeholders," he added.

The transaction remains subject to regulatory approval and is expected to close in the coming weeks.

In December last year, Shuaa had acquired a 14 per cent stake in Khaleeji Commercial Bank, the subsidiary of GFH Financial Group, and Bahrain’s leading Islamic retail bank.-TradeArabia News Service