Al Deera Aquires 31 % of Univest Brokerage in a Deal arranged by Univest Group

KUWAIT CITY--(BUSINESS WIRE)--Mr. Abdulwahab Ahmad Al-Nakib Chairman and Managing Director of Al Deera Holding Co (Ticker:ALDEERA) announced today the launch of Univest Brokerage operation in Dubai, One of Al Deera Financial Group Investments promoting its innovative and client-focused brokerage and portfolio advisory services designed for retail and institutional investors looking to benefit from today’s dynamic GCC capital markets.

Al Deera Financial Group has acquired 31% of Univest Brokerage as part of its strategy to acquire stakes in leading Financial companies, previously it has acquired stakes in leading regional and global names such as; The Chart Group and Ithmar Capital.

Mr. Al-Nakib said, “The GCC Capital markets are of great magnitude to institutional investors around the world, therefore we have created Univest Brokerage in Dubai – The rapidly growing financial hub of the region- to be their direct access channel for investing in these markets guiding them into achieving their financial goals.”

Univest Brokerage targets to be the one stop shop of all brokerage services. We are doing this by building an integrated network of financial services companies across the GCC that share an operating platform and offer comprehensive multi-product brokerage and portfolio advisory services to clients,” Mr. Al-Nakib added.

Univest Brokerage has a paid up capital of 30 Million Dirham and has obtained all the required licensing from the Emirates Stocks and Commodities Authority (ESCA), the UAE regulatory body.

The board of Univest Brokerage include regional and global names from various sectors including AlDeera Holding company(Ticker:AlDEERA) (Kuwait),Univest Group (Kuwait), Belhoul Group (UAE),Trust Securities (UAE), Gulf Financial Brokerage Co (Kuwait), Kuwait Invest Holding Co(Ticker:KINVEST) (Kuwait).

Univest Brokerage’s board consists of 5 members: Abdulwahab Ahmad Al-Nakib(Chairman), Abdulsalam Abdulkarim (Vice Chairman), Abdullah Al Khuzam (member), Khalfan Jumaa Belhoul (member) and Mario Kezma.

Headquartered in Dubai - Univest Brokerage has brought together an exceptional team of brokers, traders, analysts and advisors with extensive knowledge of global best practices, but also the local market understanding and relationships necessary to serve clients and their individual investment needs.

Majid Julfar, CEO of Univest Brokerage has more than 10 years of commercial and investment banking experience in regional markets, including senior positions with Daman Securities, ABN AMRO, Emirates Bank International and National Bank of Dubai.

Mr. Julfar said, “The time is right for a new financial services firm, despite a crowded field. We are in the midst of a historic transformation of GCC capital markets, and investors need a partner who can guide them through this period of change with a combination of superior transaction execution and insightful portfolio advisory. Some of the most important regional market conditions that make this an ideal time for a specialized firm such as Univest Brokerage include the extensive IPO pipeline, the continuation of exponential growth in corporate bond and sukuk issues, and the introduction of equity derivative products. As well, international investors are increasingly seeking exposure to GCC markets, while macroeconomic indicators suggest strong growth in coming years across the region.”

Julfar : “Univest Brokerage will provide its retail and institutional clients unique and innovative new brokerage services in a dynamic and fast-maturing GCC capital market environment.”

Mr. Khaled Magdy El-Marsafy, General Manager of Al-Deera Holding added, “The composition of Univest Brokerage is truly unique in the financial services sector in the GCC. For the first time in the region, a brokerage firm will be able to offer the diversified product range from a single relationship; the products will include Equities Trading, Asset Management Products, Research Reports, Derivatives Trading on local companies and Commodities Trading which will include physical delivery. Clients of Univest Brokerage will access all these products from a single account under their Univest Brokerage relationship manager; they can obtain research and learning tools on the new product lines and a discretion to participate in the products of their choice.”

ALDEERA’s investments have also focused on building alliances and strategic partnerships that allow for developing the company’s competitive edge especially in as far as competing for top-tier business opportunities is concerned.

Al-Nakib: Al Deera F.G Acquires 31 % of Univest Brokerage in Dubai.

Univest Brokerage’s best-in-breed processes, cutting-edge technology and world-class governance structures ensure fast, efficient and precise transaction execution. Univest Brokerage also generates independent, high-quality Company and market research to support its sophisticated portfolio advisory. These help enhance Univest Brokerage’s position as a strategic investment partner to foreign institutions looking to tap into the GCC’s fast-growing economies.

Univest Brokerage’s integrated platform runs on a sophisticated multi-currency, multi-market system provided by Financial Technologies Middle East, a leading regional provider of straight-through processing solutions to exchanges, brokerage houses, banks, asset managers and other financial institutions. One of the system’s many benefits is that it allows Univest Brokerage clients to securely trade shares online or via mobile phone, with SMS confirmation.

The company initially will offer brokerage services on the Dubai Financial Market and Abu Dhabi Securities Market, but will rapidly expand its coverage to all major GCC exchanges.

Univest Group in Kuwait, - a pioneer in the regional financial consulting field -, has played an integrated role in the arranging the deal between Al Deera Financial Group and Univest Brokerage, for the purpose of providing investors the opportunity of having a one-stop facility to access the stock markets in the GCC and the commodities market within the Commodities Exchange in Dubai.

Univest Group has recently arranged the acquisition of FASTtelco – the first ISP- in Kuwait. it has previously succeeded to carve its name on several salient transactions by means of seizing prominent opportunities in the local and global markets.

During the last few years, Univest Group has managed to accomplish a record of successful transactions and investments by acquiring equity and strategic partnerships in global and regional leading companies, such as the Chart Group, US Helicopter, BPL Global, Seamobile, Yotel, Aiwa Gulf, Al-Khat Printing Press, Kuwait National Lubricant Oil Company, Warba Press & Publishing Company, as well as Ithmar Capital in Dubai among other numerous companies.

Mr. Al-Nakib concluded saying, “At Al-Deera Financial Group we seek excellence via seizing investment opportunities which enable us to be a leader in the Financial sector. Such accomplishments compliment the strategic plans of Al-Deera Holding Company, whose outcomes will deliver positive growth through harvesting profits which the company will witness in the year 2008.”

About AL-Deera Holding Company

Established in 1998, Al-Deera Holding is a Kuwaiti shareholding company (Ticker: ALDEERA), listed on the Kuwaiti Stock Exchange since 2005, Al-Deera Holding Company is considered as one of the leading companies in its line of business. The Company focuses on investment in private and public companies which witness strong growth.

Since its inception, ALDEERA has adopted a balanced expansion strategy that allowed for mitigating risk, while maximizing investment return. By maintaining a diversified portfolio – both in terms of the geographical and industrial distribution of investments – the company has been able to maintain steady growth in its net profits; as a result of such a strategy.

ALDEERA’s investments have also focused on building alliances and strategic partnerships that allow for developing the company’s competitive edge especially in as far as competing for top-tier business opportunities is concerned.

www.aldeeraholding.com

About Univest Brokerage Company

Univest Brokerage, the financial services arm of a prominent GCC conglomerate, is an integrated financial services firm headquartered in Dubai. Offering best-of-breed brokerage and portfolio advisory services to retail and institutional clients – both regional and international – the company is distinguished by its innovation, integrity, professionalism, client focus and use of technology.

About Univest Group

• Univest Group is a multi-disciplined financial consulting firm. The four main Business lines of Univest Group are: Private Equity, Corporate Finance Advisory, Research and Asset Management. It has established fast growing, leading practices in these fields.
• Univest is a sister company of Al Deera Holding (Ticker:ALDEERA) a Kuwaiti share holding company listed on the Kuwait stock exchange and a member of the globally recognized international financial advisor (IFA) consortium
• By building alliances and encouraging synergies, Univest has been able to offer high net worth individuals and institutions unique investment opportunities, in depth research and valuable financial advice.
• Since its inception in the year 2001, Univest Group has identified and successfully completed deals worth more than USD 420 million covering a wide range of sectors.

UNIVEST Group has offices in Kuwait, New York, Dubai and the Cayman Islands.