{"id":94592,"date":"2024-08-07T00:00:00","date_gmt":"2024-08-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/bhm-to-acquire-al-waqan-capital-in-a-share-swap\/"},"modified":"2024-08-07T00:00:00","modified_gmt":"2024-08-07T00:00:00","slug":"bhm-to-acquire-al-waqan-capital-in-a-share-swap","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/07\/bhm-to-acquire-al-waqan-capital-in-a-share-swap\/","title":{"rendered":"BHM to acquire Al Waqan Capital in a share swap"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BHM proposes AED 4.85 bn capital increase to acquire Al Waqan:<\/strong> Dubai-based financial services firm BHM Capital\u2019s board has proposed a AED 4.85 bn capital increase to carry out an acquisition of Core International Holdings\u2019 investment arm <a target=\"_blank\" href=\"https:\/\/cih.ae\/our-companies\/#AlWaqan\" style=\"\" rel=\"noopener\">Al Waqan Capital<\/a> through a share swap, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/486.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The capital boost will raise the company\u2019s total issued capital to AED 5.02 bn from AED 173.4 mn. Further information about the transaction and its timeline were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">About Al Waqan:<\/strong><span style=\"background-color: transparent;\"> Waqan manages an asset portfolio valued at AED 723 mn and holds stakes in Gulfnav, Takaful Emarat, and <\/span><a target=\"_blank\" href=\"https:\/\/www.taaleem.me\/\" rel=\"noopener\">Taaleem<\/a><span style=\"background-color: transparent;\">. Core said it plans to ramp up its capital market investments through Al Waqan in <\/span><a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b2suygw-%D9%83%D9%88%D8%B1-%D8%A7%D9%86%D8%AA%D8%B1%D9%86%D8%A7%D8%B4%D9%8A%D9%88%D9%86%D8%A7%D9%84-%D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D8%B1%D9%87%D9%85#:~:text=%D9%88%D9%82%D8%A7%D9%84%20%D8%B5%D8%A8%D8%B1%D9%8A%3A%20%E2%80%9C%D9%8A%D8%A8%D9%82%D9%89,%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9%20%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D8%AF%D8%A7%D9%85%D8%A9%20%D9%88%D8%A7%D9%84%D9%85%D8%A8%D8%AA%D9%83%D8%B1%D8%A9%22.\" rel=\"noopener\">April<\/a><span style=\"background-color: transparent;\">, as part of plans to invest <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6eb8cfd4-79df-4faa-84ef-791e334c26c2\/%253cmark%253ecore%253c%2Fmark%253e-holdings-eyes-education,-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\" rel=\"noopener\">AED 5 bn<\/a><span style=\"background-color: transparent;\"> over the next five years to boost its portfolio holdings in education, real estate, and financial management. In addition to Al Waqan, Core has four subsidiaries, spanning real estate, education, and financial services.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>BHM Capital will hold a general assembly on 26 August to approve and ratify the decision to boost its capital and move forward with the acquisition. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waqan manages a AED 723 mn portfolio<\/p>\n","protected":false},"author":1,"featured_media":94593,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[608,1344,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-bhm-capital","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a095f81c-7d23-41b6-ae64-c3f5edd196a4","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/639.jpg","photo_position":"above","homepage_title":"","full_issue_title":"BHM to raise capital to AED 5 bn, acquire Al Waqan Capital","related_issue":[94582],"teaser":"Waqan manages a AED 723 mn portfolio","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.dfd7c3d2-2e59-47c2-aceb-374d5b287749.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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