Abu Dhabi's Shuaa Securities goes in for a name change

Dubai: One of the UAE's leading stock brokerage firms has got itself a new name - Shuaa Securities will now be known as International Securities. It was acquired by Abu Dhabi-based International Holding Company (IHC) in 2019.

All through last year, the firm "maintained" the highest trading value among brokerages in the UAE, with Dh57 billion plus and a market share of more than 20 per cent.

Founded in 2001, International Securities offers trading, execution and research services to retail and high networth individuals and institutional clients. Syed Basar Shueb, CEO and Managing Director of IHC, said: “IHC’s Capital business is one of our highest-performing verticals and is an important pillar of our ambitious growth strategy. We see significant value potential in continuing to grow their business under the new name.”

In the second-half of last year, IHC and its subsidiaries announced several investments, including in Falcon CI IV LP, a fund that owns a stake in SpaceX, Elon Musk’s aerospace company. Three of IHC's subsidiaries were also recently listed on Abu Dhabi's secondary market.