Three Omani brokerage firms to merge
Al-Mawarid Securities, Al-Shalman Securities and the Oman and Emirates Investment Holding Company recently signed a Memorandum of Understanding (MoU) for merger, in a bid to create one giant investment corporation, reported The Times of Oman.
The scheme’s implementation is subject to shareholders’ approval. The merger will be the first of its kind in Oman with the new entity’s focus being corporate finance, asset management, brokerage and financial advisory services.
Established in 1997, Al-Mawarid Securities has an equity capital of 20 million Omani Riyals ($52 million) and $100 million under funds management. — (menareport.com)
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