 |
PRESS RELEASE |
| FOR IMMEDIATE RELEASE | 31st
October, 2007 |
MAC SHARAF CAN NOW TRADE ON THE DIFX
DUBAI: MAC Sharaf Securities (U.A.E.) LLC announced today that it now offers its clients trading access to the Dubai International Financial Exchange (“DIFX”). MAC Sharaf has been operating on the Dubai Financial Market (“DFM”) since 28th February 2007 and the Abu Dhabi Securities Market ("ADSM") since late September, 2007. It can now offer its clients access to all three stock markets in the U.A.E. MAC Sharaf brings a range of products that were previously only accessible to a small number of institutional investors.
The DIFX currently lists equities, sukuks, conventional bonds and structured products and is the intended market for the forthcoming DP World IPO and listing.
Regional companies which have listed their equities on the DIFX include Al Baraka Banking Group of Bahrain, Gold Fields of South Africa and Saudi Arabia’s Kingdom Hotel Investments, Swiss Financial Services Company, Fortune Management and British-based Hikma Pharmaceuticals.
Listed derivative products such as the “DIFX TraX” are also accessable on the DIFX. These structured products are instruments that provide a return based on the performance of the DFM, the ADSM and other GCC stock markets – their performance can either track the underlying indices or provide a capital protected return. Other DIFX TraX products are based on US, European and East Asian share indices and on commodities such as oil, soy, corn, wheat, sugar and cotton.
The DIFX boasts the largest listed sukuk market in the World with a total market capitalisation of USD13.8 billion. Nakheel recently listed the World’s largest sukuk on the DIFX – a US$3.52 billion issue.
It is widely believed that the recently announced listing of global marine terminal operator, DP World, on the DIFX will dramatically increase the level of interest in the DIFX and, as a result, volumes on this market. DP World has announced plans to sell about 20 per cent of its shares to raise at least US$ 3.5 billion. Listing of the shares is expected by the end of November, 2007.
MAC Sharaf Securities (U.A.E.) LLC., is a joint venture between the Sharaf Group, Mohammed Abdul Rahim Al Ali and McMillen Advantage Capital Limited (“MAC”). Seven international brokers and corporate advisors, based in London, Tokyo, Paris, Hong Kong, Geneva and Bangkok are also shareholders of MAC and will all support the growth of MAC Sharaf in its expansion within the United Arab Emirates.
MAC Sharaf’s Head Office is at Suite 134 Building, Gold and Diamond Park, Interchange 4, Sheikh Zayed Road, P.O. Box 122723, Dubai, U.A.E. and at the Company’s principal contact number are;
Sales Tel: +971-4-409 7102
Research Tel: +971-4-409 7140
For further information on MAC
Sharaf, please visit its website at www.mac-sharaf.com
PRESS CONTACTS:
Mr. Sharafudin Sharaf Chairman |
Mr. Michael Fernandez Managing Director
|
Ms. Rania Ababneh Head: Customer Service Email: rania@mac-sharaf.com |
EDITOR’S NOTES:
MAC Sharaf Securities (U.A.E.) LLC,
is a stock broker, fully licenced by the Emirates Securities and Commodities
Authority with seats on the Dubai Financial Market and the Abu Dhabi Securities
Market.
Its sister company, MAC Capital
Limited, has recently received conditional approval for a Category 2 license in
the Dubai International Financial Centre and is currently fulfilling those
conditions.
MAC Sharaf’s Shareholders are;
%
Sharaf Investments LLC 25.5
Major General Mohammed Abdul Rahim Al Ali 25.5
McMillen Advantage Capital Limited 49.0
100
The Directors of MAC Sharaf are;
Sharafuddin Sharaf (Chairman)
Robert W. McMillen (Vice Chairman)
Yasser Sharaf (Director)
Jassim Al Ali (Director)
Michael A.W. Fernandez (Director and Managing Director)
The International Shareholders of
MAC Sharaf, include;
Company |
Professional |
Country |
Quam Securities Co., Ltd. |
Stock Broker and Investment Bank |
Hong Kong |
Lloyd Edward-Jones |
Investment Bank |
France |
Killik & Co. |
Stock broker |
United Kingdom |
Banque Morval |
Private Bank |
Switzerland |
Capital Partners Securities Co., Ltd. |
Stock broker and Investment Bank |
Japan |
Knight Asset Management |
Fund Manager |
Hong Kong |
Syrus Securities Plc. |
Stock Broker |
Thailand |
MAC Sharaf’s Key Executives in Dubai are;
Managing Director : Michael Fernandez
Sales Team : Nour Al Zoubi
Amjad Bakir
Abdullah Al Rustamani
Hamda Al Ali
Qisar Nehal
Kristen Hopkins (Institutional Sales)
Head of Customer Service : Rania Ababneh
Head of Research : Sanyalak Manibhandu
Head of Operations : Manish Goel