Rasmala doubles its capital to Dhs370 mln


Rasmala Investments Ltd., a Dubai- based investment bank whose shareholders include Deutsche Bank AG, said it doubled its capital from Dhs 185 Million to 370 Million ($100 million) through a private placement of shares.

Ten investors from Saudi Arabia, Abu Dhabi, Dubai and Oman took part in the private placement, Rasmala said in a statement.

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.

Deutsche Bank DBKGn.DE raised its stake in Rasmala to 18 percent from 11 percent in the private placement, making it the single largest shareholder in the firm, Rasmala said.

The firm is involved in asset management, investment banking and brokerage.