Oman firm buys 14.9% in Almondz
Oman-based private equity firm Al Anwar Holdings SAOG is buying 14.99% stake in a financial services company, Almondz Global Securities (AGSL).
By TNN |
MUMBAI: Oman-based private equity firm Al Anwar Holdings SAOG is buying 14.99% stake in a financial services company, Almondz Global Securities (AGSL). The deal, at Rs 85 a share, through a preferential allotment of shares, has pegged Almondz’s enterprise value at Rs 232 crore.
This is the maiden investment by the Muscat Securities Market-listed company in the Indian financial services sector.
SBI Caps and Oman-based Gulf Investment Services Company advised Al Anwar Holdings. The agreement comes close on the heels of AGSL signing a memorandum of understanding (MoU) with the Noble Group, an independent investment bank in the UK, in October 2007 to jointly pursue cross-border business opportunities.
Setting up a foreign institutional investor (FII) desk in London and Mumbai was also a part of the agreement. As a part of its plan to offer the convenience of online trading to retail investors, Almondz is currently beta testing its online trading platform.
This is the maiden investment by the Muscat Securities Market-listed company in the Indian financial services sector.
SBI Caps and Oman-based Gulf Investment Services Company advised Al Anwar Holdings. The agreement comes close on the heels of AGSL signing a memorandum of understanding (MoU) with the Noble Group, an independent investment bank in the UK, in October 2007 to jointly pursue cross-border business opportunities.
Setting up a foreign institutional investor (FII) desk in London and Mumbai was also a part of the agreement. As a part of its plan to offer the convenience of online trading to retail investors, Almondz is currently beta testing its online trading platform.
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