Latest Threads on News from companies

Omorfia Group, the beauty division of Abu Dhabi-based Multiply Group, has acquired 100% ownership of The Grooming Company Holding (TGCH) from CedarBridge Capital Partners. This acquisition, which includes 47 owned and operated salons and 15 franchises across five countries, aligns with Omorfia Group's strategy for growth through targeted acquisitions. TGCH’s portfolio includes brands like N.BAR, 1847, and Sisters Beauty Lounge, serving over 120,000 customers annually. This move brings Omorfia Group's total to 132 owned and operated salons, reinforcing its leadership in the GCC and MENA beauty sectors. The company plans to expand its footprint through organic growth and strategic partnerships. Leaders from both groups emphasized the benefits of combining their operational capabilities and expertise to enhance service quality and drive sustainable growth.

Multiply Group PJSC has announced that Omorfia Group, a subsidiary specializing in beauty and personal care, has acquired 100% ownership of The Grooming Company Holding (TGCH) from CedarBridge Capital Partners. TGCH operates 47 salons and 15 franchises across five countries, offering services to both men and women. The main brands under TGCH include N.BAR, 1847, and Sisters Beauty Lounge, with a combined total of 62 locations. Additionally, Wellbe Trading, a subsidiary of TGCH, is the exclusive distributor of high-end beauty products in the GCC region.

GFH Financial Group B.S.C. has announced that its Board of Directors will hold a meeting on Monday, August 12, 2024, at 2 p.m. Bahrain time. The agenda includes discussing the financial results for the second quarter of 2024 and other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company has announced that its Board of Directors will make decisions by circulation regarding company matters on Friday, June 14, 2024. This information was communicated to Hamed Ahmed Ali, CEO of the Dubai Financial Market, by Islam Mahrous, Chief Compliance Officer.

Ithmaar Holding B.S.C. has announced the appointment of Mr. Maysan Faisal Almaskati as the new Chief Executive Officer of Ithmaar Holding and its two wholly-owned subsidiaries, Ithmaar Bank and IB Capital. This appointment has received approval from the Central Bank of Bahrain. Prior to this role, Mr. Almaskati served as Assistant General Manager of the Business Banking Group at Ithmaar Bank and has over 24 years of experience in investment and banking.

The text is an official announcement from Sukoon Insurance PJSC regarding the change of the company's name, trading symbol, and logo in the Dubai Financial Market. The change follows a special resolution by the General Assembly on March 29, 2024, and the necessary approvals from regulatory authorities. The company's name will change from "Arabian Scandinavian Insurance Company (PLC) - Takaful - ASCANA Insurance" to "Sukoon Takaful PJSC." The trading symbol will change from "ASCANA" to "SUKOONTAKAFL." The last trading day under the old symbol will be Thursday, June 13, 2024, and the first trading day under the new symbol will be Friday, June 14, 2024. The announcement is signed by Dima Fakhoury, Head of Compliance and Corporate Governance, and is also addressed to Maryam Butti Al Suwaidi, Deputy CEO of Licensing, Supervision, and Enforcement Affairs at the Securities and Commodities Authority in Abu Dhabi, UAE.

Dubai Investments PJSC (DFM:DIC) has appointed xCube, a fintech company and market maker, as the Liquidity Provider for its shares listed on the Dubai Financial Market (DFM). The one-year agreement allows xCube to independently trade Dubai Investment shares starting June 11, 2024, by entering two-way daily quotes in compliance with DFM and SCA regulations. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, emphasized that this strategic move aims to enhance shareholder value by improving liquidity, facilitating easier trading in the short term, and promoting higher valuation in the long term. Saad Chalabi, CEO of xCube, expressed gratitude for the trust placed in them and highlighted their goal to optimize liquidity, reduce bid-ask spreads, and decrease unwanted liquidity-driven volatility. Dubai Investments, established in 1995, is one of the largest investment companies in the UAE, managing a diverse portfolio across various sectors.

Al Ansari Financial Services PJSC, a leading financial services group in the UAE, has been awarded the Best Financial Institution IPO in the EMEA region for 2023 by EMEA Finance. The award recognizes the successful execution and high investor demand for the Group's IPO, which raised AED 773 million and saw demand exceed AED 12.7 billion. The award ceremony took place in London and highlighted notable deals and dealmakers in the region. Group CEO Rashed A. Al Ansari expressed his gratitude for the recognition and emphasized the company's commitment to delivering value to shareholders and stakeholders. The Group's subsidiaries, including Al Ansari Exchange, have established a specialized ecosystem for efficient money mobility. The recognition underscores the Group's strategic direction and its strong position in the financial services sector.

The Dubai Financial Market announced that a new series of equity futures contracts will be available for trading starting on June 13, 2024. These contracts, set to expire on September 19, 2024, include futures for various companies such as AIRARB, ANSRI, ARMX, DEWA, DEYAAR, DFM, DFMGI, DIB, DIC, DU, EMAAR, EMPWR, EMRDEV, ENBD, GFH, SALIK, and SHUAA. Additional details and updates can be found on the Dubai Financial Market website. The information provided is subject to change, and the Dubai Financial Market Regulated Derivative Contract Trading Regulation will take precedence in case of any inconsistencies.