Home
New sharia-compliant investment house to target India, China
UAE News.Net
Saturday 11th October, 2008 (IANS)
A new Islamic finance or sharia-compliant investment company targeting the markets of India, China and the Middle East and North Africa (MENA) region has been launched in the United Arab Emirates (UAE).
Amara Holdings, launched by Newhaven Investment House, will focus on pre-IPO, private equity and private placement opportunities.
The company has already put in place key strategic partnerships with Indian, Chinese and MENA partners, according to an Amara statement.
'The current market environment presents us with significant opportunities as the price of assets in our target markets have reduced and we are now seeing valuations at very attractive multiples,' Musab Jassim, executive chairman of Amara Holdings, said here.
'Our strategy is to focus on sectors that are fundamental to the domestic economies and growth of China, MENA and India,' he added.
According to Jassim, this will consistently provide investors with private equity returns, regardless of market cycles.
The company will invest in sectors that are fundamental to the domestic economies and growth of the target regions such as agriculture, consumer staples, utilities, industrial, real estate and service related businesses.
Amara said in its statement that it aimed to raise up to $200 million initially during October, principally from investors in the Gulf region.
It is also planning to list on London's Alternative Investment Market.
"Amara is unique as it offers investors packaged exposure to these growth regions and by virtue of its London listing, the highest levels of transparency and corporate governance," Jassim said.
The new company has already made its first investment in China in partnership with Pan China Construction Group.
The first of the joint ventures, China Infrastructure Corporation, has already been formed, which will develop a logistics park called Ningxia International Logistic Centre in Ningxia province of China.
Newhaven Investments House, the company formed specially to manage Amara, is a collaboration of two leading firms, Newhaven Merchant Bankers and Investments House.
Newhaven Merchant Bankers has offices in North America, Europe, Middle East and Asia.
Investments House is the investment arm of a prominent Gulf-based family.
The new sharia-compliant investment company has been launched even as Bahrain-based International Islamic Financial Market launched the world's first ever master agreement on Islamic finance this week.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Kylie Minogue had to gatecrash aftershow party after £1.5m Dubai performance!
London, Nov 23 : Kylie Minogue may have been paid 1.5million pounds for her gig at the launch of Dubai Atlantis, but when it came to the entry to the lavish aftershow party, the singer had to gatecrash her way in. [read story]
- Lindsay, Samantha's relationship on the rocks?
London, Nov 23 : Lindsay Lohan and Samantha Ronson's relationship seems to have it a rough patch following their public bust-up at a Dubai club. [read story]
- UAE to stick with U.S. dollar peg
The United Arab Emirates has no plans to abandon the U.S. dollar peg. [read story]
- City's record bid to sign Buffon
London, Nov 22 (IANS) Manchester City's new owners Abu Dhabi United Group is attempting a world-record $74 million bid to sign Italian goalkeeper Gianluigi Buffon. [read story]
- Travis Barker sues over plane crash; alleges mishap may cause 'permanent disability'
Washington, Nov 23 : Travis Barker, who survived a deadly plane crash with DJ AM, is suing Clay Lacy Aviation and three other companies for damages for personal injury and wrongful death, alleging that the injuries might lead to 'permanent disability' [read story]
|
|
 |
 |
|
|
