Ethmar International Holding (EIH), a diversified holding company, and Ajman Bank, a UAE-based Shariah-compliant bank, have signed a strategic partnership agreement to prepare for the listing of EIH as a joint stock company in the UAE stock market.
As part of the agreement, Ajman Bank will act as a strategic partner during the private offering process. This partnership marks a significant milestone for both companies and contributes to the expansion of local markets and the growth of the UAE economy.
Mr. Ali El Gebely, Managing Director and CEO of EIH, stated that the partnership aims to build real value for the future of investment through strategic partnerships and to develop a diversified, innovative and sustainable investment portfolio. The UAE economy is a key hub for financial markets in the Middle East, and its economic boom reflects the country’s high resilience in the face of ongoing global challenges. Mr. El Gebely also praised BHM Capital’s expertise in providing high-quality services in line with the highest international standards.
Mr. Mohamed Amiri, Chief Executive Officer of Ajman Bank, expressed delight in collaborating with Ethmar International Holding and said that the strategic initiative aligns with the bank’s commitment to support the growth of the UAE’s economy and serve the interests of the bank’s investors. He also highlighted his confidence in leveraging the bank’s expertise and resources for the benefit of all.
Recently, Ethmar signed an agreement with BHM Capital Financial Services under which the latter will provide financial advisory and listing services to Ethmar.
