Corporate | 30 September 2008 09:13
Baader Bank AG / Miscellaneous/Miscellaneous
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Unterschleissheim (Germany) 30 September 2008
Baader Bank AG, Unterschleissheim (Germany), continues its course of
expansion in the Gulf region. Germany’s leading specialist for securities
trading is extending its activities on the stock exchanges in Dubai and Abu
Dhabi with its investment in Muscat (Oman). 'This enables us to provide
German investors with direct access to both these important capital markets
on the Persian Gulf', said Uto Baader, Chairman of the Board of Directors
at Baader Bank.
Gulf Baader Capital Markets S.A.O.C. (GBCM) in Muscat, in which Baader has
held 24.9% since last year, thus acquired 50% of the shares to brokerage
firm Stock Securities LLC, established in 2004, from Gulf General
Investment Company (GGICO), both in Dubai. The new company, which now
trades under the name of Gulf Baader Capital Markets LLC, Dubai, is a
member of the Dubai Financial Market (DFM) and Abu Dhabi Exchange (ADX)
stock exchanges. The other 50% of GBCM in Dubai is still held by GGICO.
With this move, Baader is extending its network on the Gulf around the
United Arab Emirates. The GBCM in Muscat thus serves as a centre of
expansion for Baader. 'From Oman, we will open up more markets in the
region', said Baader. GBCM in Dubai’s service spectrum will be extended
parallel to this. 'In addition to the securities trading for customers, we
will open up corporate advisory and asset management as new areas of
business', said Abdalla Juma Al Sari, Director of GGICO in Dubai.
GGICO, established in 1973, is a company listed on the Dubai stock exchange
(DFM) with over 30 subsidiaries. Its business areas cover a wide range such
as the manufacturing industry, the financial and insurance sector, retail,
and property development.
With over 300 employees, Baader Bank AG in Unterschleissheim, near Munich,
is Germany’s leading specialist in securities trading. Baader is the market
leader among the order book specialists on the Frankfurt trading floor and
member of the other six German stock exchanges as well as on all essential
trading centres in Europe. In addition to this and due to its partner
network, the institution has access to the main global stock exchanges,
such as in New York, Tokyo and Singapore. Baader offers complementary
services for the capital market around these core competences in securities
trading. With its foreign strategy introduced in 2006, Baader has created
the opportunity of generating growth fields outside the core market of
Germany.
Contact:
Thomas Spengler
Corporate Communications Manager
Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Germany
Tel: +49 (0) 89 5150 1030
Mobile: +49 (0) 160 7188830
E-mail: Thomas.Spengler@Baaderbank.de
http://www.Baaderbank.de
30.09.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Deutschland
Phone: +49 (0)89/ 5150-0
Fax: +49 (0)89/ 5150-2423
E-mail: Info@Baaderbank.de
Internet: www.Baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Stuttgart; Freiverkehr in Hannover, Hamburg,
Düsseldorf
End of News DGAP News-Service
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