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SHUAA Capital acquires stake in Kuwaiti investment firm

Dubai-based SHUAA Capital PSC said July 31 that it acquired 14,491,378 shares in Amwal International Investment, representing about 8% of the Kuwait-based investment firm's share capital.

Amwal's primary investment includes a 51% stake in Noor Capital Markets, an online trading platform providing access to clients seeking to invest in contracts for difference, futures, metals and currencies.

"We see potential for great value in Amwal and synergies between our capital markets offering and access to Noor Capital Markets' trading platform," SHUAA Capital General Manager Fawad Tariq-Khan said.

SHUAA Capital unit Gulf Finance Corp. PJSC also owns roughly 3% of Amwal.