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Ubhar Capital

Ubhar Capital Overview

Ubhar Capital – or U-Capital – is one of the largest asset managers and stockbrokers in Oman.

It specialises in financial services, including asset management, broking, corporate finance, wealth management, custody and research.

U-Capital was established in 2017 through the acquisition of the Investment Management Group of Oman Arab Bank. Since then it has raised approximately $11 billion across various transactions.

U-Capital says its team has managed more than 15 IPOs and advised on more than 55 transactions across sectors including banking, mining, construction, utilities and food.

Last year U-Capital became the first Omani private company to be granted an investment banking licence by Oman’s Financial Services Authority.

Ubhar Capital News

Bank Dhofar has almost OMR5 billion of assets

Omani banking sector ripe for further mergers

Oman’s banking sector has more than doubled in size since 2013 but may lack the scale to meet state financing needs. Lenders are already stretched in terms of their loan-to-deposit ratios, and further sector consolidation is probably needed along with borrowing on international bond markets. Bank Muscat is Oman’s largest with assets of OMR13.7 billion […]

Despite a range of announced construction projects, Omani banks say there has been little 'on the ground' progress

Omani banks look to state spending to boost credit growth

Lower interest rates should increase borrowing demand in Oman although the sultanate’s banks are waiting for a meaningful expansion in government infrastructure spending for credit growth to accelerate. Bank Muscat is Oman’s largest bank, reporting a 2023 net annual profit that was greater than those of the next four commercial banks combined, S&P Global data […]

Oman needs three listed companies with market caps above $2.19bn to get on MSCI’s Emerging Markets index. OQEP could be one

Oil IPO is latest step towards Oman’s emerging market status

An Omani state oil company’s $2 billion initial public offering will boost the sultanate’s chances of eventually being reclassified as an emerging market by the world’s leading stock index providers. If achieved, Oman’s blue-chips will receive sizeable inflows from passive funds that track the MSCI and FTSE emerging market benchmarks, increasing bourse turnover and likely […]

Ooredoo Myanmar Qatar

Myanmar venture proves a big loss for Qatar’s Ooredoo

Qatar’s Ooredoo sold its Myanmar mobile network for even less than it originally agreed, new figures reveal, as one expert suggested its multi-billion-dollar losses may also be higher than previously estimated. The new figures in the telecom operator’s latest financial statement shed further light on a market that was once touted as the last major […]

The e& stand at the Mobile World Congress 2024 in Barcelona. The telco says it wants its tech division to generate 40% of revenue by 2030

UAE telco e& buys Turkish tech company for $60m

A wholly owned subsidiary of Abu Dhabi-listed e& – more commonly known as Etisalat – has acquired GlassHouse, a Turkey-based cloud solutions provider, for $60 million. The UAE telco’s subsidiary, e& enterprise, had signed an agreement with Mediterra Capital and individual shareholders in June. GlassHouse is an Istanbul-headquartered IT infrastructure services provider which serves 2,000 enterprises […]

T3H791 Muslim woman talking on phone

Saudi Telecom’s share surge raises prospect of PIF stake sale

Saudi Telecom Co’s surprise dividend increase announcement has propelled its stock to a 13-month high and increased the likelihood that majority shareholder the Public Investment Fund may sell some of its stake in the former telecom monopoly. On Sunday, STC said it would pay SAR0.55 ($0.15) per share each quarter for three years starting from […]

e&'s AI-integrated robot interacts with people at the Mobile World Congress Barcelona 2024. The company's shares have rallied from a four-year low in May

Worst is over for Etisalat shares but don’t expect a rebound

Shares in UAE blue-chip e& – more commonly known as Etisalat – have fallen by more than half from a 2022 peak as investors fret over difficulties related to some of the telecom operator’s foreign investments. Yet analysts believe these issues are now priced in and so the worst should be over for the stock. Etisalat […]

Gone are the days when telcos could rely on merely a phone network to turn a profit

Telcos turning to tech to propel growth

Fear of market irrelevance has spurred former Gulf telecom operators such as e& to bet on providing more sophisticated, tech-based services to consumers and businesses. This strategy differs from earlier efforts to create a vast geographic footprint for their operations, which, in many cases, led Gulf telcos to nurse billion-dollar losses. E&, which is listed […]

The Muscat Stock Exchange is launching a secondary financial market that will provide incentives to companies keen on listing

Omani fund targets commercial assets after IPO

Jabal Real Estate Investment Fund has targeted a swathe of commercial assets in Oman after officially listing on the Muscat Stock Exchange. The company, which has a capital portfolio of OR17 million ($45 million), is considering an office building and a warehousing complex in the sultanate.  No further details were given, although both properties boast […]

Cement companies face price challenges due to decreased demand and heightened inventory levels in 2023

Saudi cement prices under pressure as competition mounts

Strong competition among Saudi Arabia’s cement companies is likely to continue and will exert pressure on prices in the short to medium term, according to a report from investment advisory company Ubhar Capital. There is ongoing optimism regarding the pipeline of mega and giga projects, as well as anticipated investments related to Expo 2030. However, […]