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Rasmala raises AED 220 million equity in Gulf Navigation Holding PJSC

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DUBAI, UAE, Oct. 23, 2023 /PRNewswire/ —  Rasmala Investment Bank Limited (“Rasmala”), a leading alternative investment manager, announces that it has arranged a successful capital raise for Gulf Navigation Holding PJSC (“GULFNAV”), a prominent player in the petrochemical tanker sector. This achievement represents a significant milestone in GULFNAV’s ongoing efforts to bolster its position within the maritime industry.

 

GULFNAV recently disclosed the details of its capital increase, resulting in the Company’s capital increasing by 31% to AED 838 million. This process involved the issuance of 220 million mandatory sukuk which were converted into 200 million shares. The capital increase is set to strengthen the Company’s operations, enabling it to acquire, manage, and maintain an advanced fleet of petrochemical tankers and positioning the company to better serve the evolving demands of the global energy and maritime markets.

This transaction builds on Rasmala’s expertise in capital raising, structuring and investments for our clients.

Haroon Ahmad, Chief Executive Officer of Rasmala, said: “This achievement is a testament to our dedication to providing exceptional financial solutions that empower our clients to achieve their strategic objectives. We look forward to serving more clients in capital raising and structuring. I want to express my gratitude to the GULFNAV team for placing trust in us as well as the Rasmala team for working tirelessly on this transaction for the past six months. “

Ahmad Kilani, GULFNAV’s Chief Executive Officer, added: “I am immensely grateful to Rasmala Team for their unwavering support and expertise in securing a vital 200 million dirhams investment. This significant capital injection not only fuels our growth but also propels us toward a future of sustainable excellence in the petrochemical shipping industry.”

“I would also like to take this opportunity to thank our legal advisors IBRAHIM N. PARTNERS (“INP”) for playing a pivotal role in managing the legal aspects of the transaction and ensuring compliance with local regulations and international best practices. Lastly, I would like to extend my gratitude to the Securities and Commodities Authority (“SCA”) for their support throughout the entire capital restructuring process.” 

With this substantial financial boost, GULFNAV is now well-positioned to expand its reach, enhance operational efficiency and invest in ambitious initiatives that will not only enhance the Company’s competitive edge but also contribute to a more sustainable and promising future for the industry.

About the Rasmala Group
Rasmala Group is a leading alternative investment manager operating in global markets since 1999. It invests directly and alongside Gulf-based institutional investors including banks, pension funds, endowments, family offices, corporations and government institutions. Rasmala Investment Bank Limited is based in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority (DFSA) and is a wholly owned subsidiary of the Rasmala Group. RIBL products and services are only made available to customers who RIBL is satisfied to meet the regulatory criteria to be “Professional Clients”, as defined by the DFSA. The significant subsidiaries of the Rasmala Group are referred to interchangeably as “Rasmala” and “the Rasmala Group”. For further details, please visit www.rasmala.com.

About GULFNAV
About Gulf Navigation Holding: Gulf Navigation Holding PJSC (“GNH”) is a fully integrated and synergized organization with a multifunctional business. It is the only maritime and shipping company listed in the Dubai Financial Market since February 2007 under the symbol “GULFNAV”. The company is headquartered in Dubai, with branch offices inside the port of Fujairah, Khorfakkan, Abu Dhabi and an overseas office in the Kingdom of Saudi Arabia. The company has a fleet of chemical tankers, livestock transport vessels, operation support vessels, marine services, and ship repair operations. As an ISO 9001:2015 certified company accredited by Bureau Veritas, GNH is committed to adhering to the requirements of the international management code for the safe operations of vessels, pollution prevention and environmental control, including compliance with all the applicable international laws, regulations, and requirements. GNH constantly works to upgrade its operations and provide high-quality services to local and international markets. This opens new opportunities to improve GHN’s services to existing customers while attracting new customers.

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StockGro Partners with GIIS Dubai to Transform Youth Financial Literacy in the UAE

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DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — StockGro, India’s leading platform for experiential financial education, has joined hands with the Global Indian International School (GIIS) Dubai to equip students in grades 9 to 12 with essential financial skills. This partnership marks StockGro’s second major collaboration in the UAE, reinforcing its expansion into the GCC region.

As GIIS’s financial literacy partner, StockGro has integrated its innovative curriculum into the school’s academic framework. Through expert-led sessions conducted every alternate month, students gain insights into financial concepts, stock market basics, and strategic investment approaches, fostering critical thinking and real-world application.

A standout feature of the partnership is the stock market learning programs which consist of model portfolio exercises for grades 9 to 12. These stock market portfolio management activities allow students to apply their knowledge in a risk-free, real-world environment, building confidence and practical understanding of trading and investments.

Ajay Lakhotia, Founder & CEO of StockGro, said, “This collaboration bridges the gap between theoretical learning and practical application, preparing students to make informed financial decisions. It reflects StockGro’s dedication to empowering the next generation with tools to navigate real-world financial challenges.”

Ms. Rajani Manikonda , Supervisor of Senior Secondary School, GIIS Dubai, remarked, “Empowering students with financial literacy is essential in today’s interconnected world. This partnership with StockGro introduces our learners to the intricacies of financial management in an engaging, practical manner, ensuring they develop the critical thinking and problem-solving skills needed to thrive in the global economy.”

By partnering with one of Dubai’s top Indian international schools, StockGro strengthens its foundation for future collaborations in the UAE and GCC region, advancing its mission to revolutionize financial education on a global scale.

About StockGro

StockGro is a leading experiential social learning platform for trading and investments, trusted by more than 35 million users worldwide. It has successfully empowered students across 1100+ prestigious educational institutions with immersive financial learning experiences. Through this collaboration, StockGro continues its mission of fostering financial literacy and practical education for the next generation.

StockGro invites educational institutions across the GCC region to join hands in fostering a financially literate world. Write to us at [email protected] so we can empower the next generation with essential life skills together.

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2024 Marks Breakout Year for China’s ETF Market with Unprecedented Growth

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GUANGZHOU, China, Jan. 10, 2025 /PRNewswire/ — China’s ETF market demonstrated exceptional performance in 2024, with notable returns and substantial growth in assets under management. According to Wind, the average return of A-share ETFs (excl. ETFs launched in 2024) reached 11.36% for the year by December 31, and the total size of A-share ETF market reached USD 5.1 trillion, a net increase of USD 2.3 trillion from year-begin. Notably, CSI 300 ETF (Code: 510310), ChiNext ETF (Code: 159915), and Star 50 ETF (Code: 588080) managed by E Fund Management (“E Fund”), the largest mutual fund manager in China, ranked among the top ten in asset growth, underlining the company’s strong position in the industry.

A Two-Decade Journey of Growth

Since the launch of the first domestic ETF in December 2004, China’s ETF market has expanded significantly. This growth is not only marked by an increase in assets but also by an acceleration in ETF issuance. In 2024, 30 fund companies launched 156 new ETFs, with E Fund leading the market by introducing 14 new products – the most among all issuers.

Over the years, the ETF market has evolved from focusing primarily on broad-based indices to offering a diverse range of products across sectors, asset classes, and themes. These innovations have broadened investment opportunities, providing both institutional and retail investors with low-cost, transparent, and flexible tools to achieve their financial goals.

The Push for Low-Cost Investing

In 2024, Chinese fund companies accelerated the trend of reducing management fees, particularly for broad-based ETFs. Leading the charge is E Fund, which has long been a pioneer in promoting cost-efficient investing. As early as 2015, E Fund set a market precedent by lowering the management fee of its flagship CSI 300 ETF (Code: 510310) from 0.5% to 0.2%, and further reduced it to 0.15% in 2019.

E Fund’s leadership in low-fee strategy is further exemplified by its extensive product range, nearly 50 ETF products offering the lowest management fee of 0.15%, accounting for 60% of its ETF portfolio.

Shaping the Future of China’s ETF Market

With over 80 ETFs under management and total assets exceeding USD 83.7 billion, E Fund continues to innovate by offering a broad range of low-cost, high-efficiency investment solutions.

As China’s ETF market evolves and expands, E Fund remains at the forefront, driving innovation and setting new standards for accessibility and efficiency. The rapid growth in 2024 underscores not only the increasing popularity of ETFs but also their critical role in shaping the future of China’s investment landscape.

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About E Fund

Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive mutual fund manager in China with over RMB 3.5 trillion (USD 505 billion) under management.* It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.

Source: E Fund. AuM includes subsidiaries. Data as of Sep 30, 2024. FX rate is sourced from PBoC.

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HTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry

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SINGAPORE, Jan. 10, 2025 /PRNewswire/ — The year 2024 marks a significant chapter in the history of the crypto industry, where we witnessed continuous breakthroughs in blockchain technology, surges in Bitcoin price, and a gradually more open regulatory environment, with cryptocurrencies gaining increasing recognition from the mainstream. As 2025 unfolds, HTX, the world’s leading digital asset exchange, has released its latest report, HTX 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook, which provides forward-looking insights into the development prospects of the crypto industry.

Key Sectors for 2025

In the report, HTX highlighted five key sectors that showed encouraging progress last year, and will continue to closely monitor these areas in 2025.

Bitcoin Ecosystem

In 2024, Bitcoin’s market dominance kept increasing, solidifying its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.

As a result, it is increasingly essential to further develop Bitcoin’s ecosystem and enhance capital utilization efficiency. With strong support from macro markets and infrastructure support, a further surge in Bitcoin demand over the next two years is well-anticipated.

Infrastructure

Infrastructure remained a cornerstone in 2024’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2,  and middleware projects, among others.

Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.

Meme Coins

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The Meme coin sector emerged as a hotspot in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.

AI

In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields, the hottest one of which is AI agents. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities. Over time, they may develop unique cultures and religions.

This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.

TON Ecosystem

Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON ecosystem achieved significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto. Moving into 2025, it needs to explore and find new business models to improve user retention and identify its next growth curve.

Donald Trump Effect: Bitcoin Strategic Reserve Worth Anticipating

The report also discusses the potential impact of crypto-friendly policies that could arise after Donald Trump takes office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are likely to pass more quickly thanks to him.

The FIT21 Act aims to create a clear legal framework for token issuance and trading by classifying tokens as digital assets or digital commodities, transferring the regulatory responsibilities of many blockchain projects from the SEC to the CFTC, and introducing a safe harbor mechanism. This would help standardize and promote the healthy growth of the entire industry.

The Bitcoin Strategic Reserve Act, aligning with Trump’s campaign promises, if passed, would mark Bitcoin’s transition from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition. It may also prompt other countries to adopt similar measures to further advance Bitcoin’s global recognition and application.

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The Act was submitted to Congress for deliberation on August 4, 2024, and referred to the Senate Banking Committee for review. Trump is well-positioned to push this bill through. Meanwhile, several U.S. states have already proposed their own Bitcoin Strategic Reserve bills. By 2025, Bitcoin as a strategic reserve may become a reality.

Additionally, under Trump’s presidency, the SAB121 Act is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further accelerating the institutionalization of crypto assets and contributing to the overall maturity of the crypto market. The SEC’s application criteria of the Howey Test may also be relaxed, increasing the likelihood of more spot crypto ETFs being approved and more public listings of crypto companies.

Meanwhile, the report also provides a comprehensive summary of 2024, looking back on the key events that had a major impact on the crypto industry while summing up what HTX had achieved over the last year.

To learn more, please visit: https://square.htx.com/htx-2024-global-web3-blockchain-ecosystem-review-and-2025-outlook/ 

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.

Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.

Contact Details

Ruder Finn Asia
[email protected] 

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Company Website
https://www.htx.com

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