19 June 2005
ABU DHABI -- Finance House, the Abu Dhabi-based public joint stock finance company, is undertaking acquisition of Fincorp, a financial company in Oman.
Oman based Fincorp is a public joint stock company listed in Muscat's Securities Market and is considered to be a leading investment house. The company provides corporate advisory services, asset and fund management, and corporate research, in addition to professional brokerage services.
Mohammed Alqubaisi, chairman of Finance House, commented: "This investment has come as a result of Finance House strategy to adopt innovative steps towards setting up a solid financial institution.
Haythem Macki, CEO of Fincorp added: "We are proud to have Finance House as a strategic shareholder in Fincorp. This gives a new dimension to enable us to tap into additional financial resources and have access to wider range of business opportunities."
Fincorp is a result of the merger between Al Mawarid Securities Co. SAOG with Al Shalman Securities Company SAOG, and the Investment Banking Division of Oman & Emirates Investment Holding Company. The Financial Corporation Company SAOG (Fincorp) has emerged as the single largest investment banking operation in Oman, with a variety of investment and investment- related services conducted under one roof.BY A STAFF REPORTER
© Khaleej Times 2005
