Al Suwaidi Joins BHM Capital as Vice Chairman Amid Acquisition Delay
Deal News | Mar 21, 2025 | Zawya
BHM Capital, a Dubai-listed financial services company, has announced the appointment of Dr. Maryam Butti Al Suwaidi, the former CEO of the UAE's federal financial regulatory agency, as its new vice chairman. This appointment follows the resignation of Eng Abdulah Atratrah. The company, known for its role as a liquidity provider and broker on the Abu Dhabi Securities Exchange and Dubai Financial Market, is currently in the process of acquiring Al Waqan Capital Investment. Initially, BHM Capital had planned to finance this acquisition through a significant AED 4.85 billion capital increase, but this has been postponed. Instead, a more modest capital increase of AED 200 million is planned, pending shareholder approval. This change in strategy comes after the Ministry of Economy requested additional requirements for the acquisition. BHM Capital has also proposed distributing profits to shareholders through bonus shares. The article underscores the shifting dynamics within BHM Capital as it navigates regulatory and financial challenges while attempting to broaden its business operations.
Sectors
- Financial Services
- Regulatory and Compliance
- Investment Management
Geography
- United Arab Emirates – BHM Capital operates within the UAE, particularly on the Abu Dhabi Securities Exchange and Dubai Financial Market.
Industry
- Financial Services – BHM Capital is involved in financial services as a liquidity provider and broker, operating on major stock exchanges in the UAE.
- Regulatory and Compliance – Dr. Maryam Butti Al Suwaidi, formerly of the UAE federal financial regulatory agency, is transitioning to BHM Capital, highlighting the intersection of corporate governance and regulatory compliance.
- Investment Management – The attempted acquisition of Al Waqan Capital Investment and the transformation into a holding company emphasize investment management activities.
Financials
- AED 4.85 billion – Initial proposed capital increase for the acquisition of Al Waqan, which has been postponed.
- AED 200 million – Revised proposed capital increase to expand operations, subject to shareholder approval.
- 26.6 million bonus shares – Proposed profit distribution as 15.31% of paid-up capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BHM Capital | Acquirer | Company | A Dubai-listed financial services company planning to transform into a holding company. |
| Dr. Maryam Butti Al Suwaidi | Future Vice Chairman | Person | Former CEO of the UAE's federal financial regulatory agency and the new vice chairman of BHM Capital. |
| Al Waqan Capital Investment | Target Company | Company | The company that BHM Capital is aiming to acquire. |
| Eng Abdulah Atratrah | Former Chairman | Person | The resigned chairman of BHM Capital and a board member of Drake & Scull International. |
| Drake & Scull International (DSI) | Board Member Company | Company | A Dubai-listed company where Eng Abdulah Atratrah serves as a board member. |