Abu Dhabi, UAE – Ethmar International Holding (EIH) and Ajman Bank have signed a partnership agreement to prepare for the listing of EIH as a joint stock company in the UAE stock market.
As per the agreement, Ajman Bank will act as a strategic partner during the private offering process.
Established in 2007, Ajman Bank is an Islamic commercial bank that listed on the Dubai Financial Market in 2008. The Abu Dhabi-based Ethmar Holding Group holds companies in various commercial and industrial sectors, including energy and real estate development,
Ali El Gebely, Managing Director and CEO of EIH, stated that the partnership aims to build real value for the future of investment through strategic partnerships and to develop a diversified, innovative and sustainable investment portfolio.
“The UAE economy is a key hub for financial markets in the Middle East, and its economic boom reflects the country’s high resilience in the face of ongoing global challenges,” he said.
He also praised BHM Capital’s expertise in providing high-quality services in line with the highest international standards.
Mohamed Amiri, Chief Executive Officer of Ajman Bank, said that the strategic initiative aligns with the bank’s commitment to support the growth of the UAE’s economy and serve the interests of the bank’s investors.