Ethmar International Holding, Ajman Bank sign strategic partnership agreement
The partnership comes as part of the preparations for listing Ethmar International Holding (EIH) as a joint stock company in the UAE stock market.
Ethmar International Holding (EIH) has entered into a strategic partnership with Ajman Bank, an Islamic financial institution in the UAE. This step comes as part of the preparations for listing EIH as a joint stock company in the UAE stock market, according to a press statement shared by Zawya.
With this, Ajman Bank will function as a strategic partner during the private offering process. The partnership will contribute to the expansion of regional markets and the development of the country's economy, read the statement.
EIH aims to create a diversified, innovative, and sustainable portfolio, said Ali El Gebely, Managing Director and CEO of Ethmar International Holding (EAH). He added that the UAE economy serves as a key hub for the activities associated with financial markets in the Middle East.
Additionally, El Gebely noted that the upcoming listing will aid the development of the company's business and augment its investments at regional and international levels.
Abu Dhabi-based Ethmar Holding Group holds several companies in sectors such as technology, real estate, energy, and more. The group is focused on the creation of diverse businesses across key sectors, locally and internationally.
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Edited by Kanishk Singh