Rasmala doubles its capital
Rasmala Investments, a leading regional Investment Bank, based in the Dubai International Financial Center, announced today that it has recently doubled its capital from Dhs 185 Million to 370 Million attracting 10 prominent investors from Saudi Arabia, Abu Dhabi, Dubai and Oman through a private placement.
Commenting on this, Mr. Ali Samir al Shihabi, Founder and CEO of Rasmala, said: “Doubling Rasmala’s capital has broadened our shareholder base and will further strengthen our financial position to support our strategy of aggressive growth in the region”.
Rasmala’s shareholders include Deutsche Bank and prominent institutions and individuals from Saudi Arabia, UAE, Oman and Qatar. As part of the capital increase, Deutsche Bank has raised its stake in Rasmala from 11% to 18% making it the largest shareholder in Rasmala.