Dubai’s Al Ramz acquires minority stake in Marka Holding

Dubai-listed financial products and services firm Al Ramz Corporation Investment and Development has acquired a minority stake in retail and hospitality company Marka Holding.

In a bourse statement, Al Ramz said it had acquired 25 million shares of Marka, equivalent to nearly 5 per cent of the company.

Al Ramz successfully completed a nearly 95 million-share rights issuance at the end of last month with a 1.1 times oversubscription.

The company has also recently launched a new investment management division