Pakistani financial portal to be acquired by UAE-based group

Re-launch of investor guide 360 with expansion to UAE and GCC in two years.

KARACHI:

Investor Guide 360, a website offering research reports on the corporate sector, has attracted investment from the Aref Mohammed alZarouni Group of the United Arab Emirates (UAE), a company official told The Express Tribune on Saturday. 

A known name in Pakistan’s investment banking, Mir Mohammad Alikhan, has joined hands with Aref Mohammed alZarouni, who is a member of the eminent alZarouni family of the UAE, to acquire a majority stake in the website for an undisclosed amount. The investment has been made through a holding company, AMZ MAK Capital Limited, according to Baqar Abbas Jafri, founder of the website.

“The acquisition of Investor Guide 360 will boost AMZ MAK Capital’s strategic growth plans in Pakistan. We thank all financial institutions, especially brokerage houses, which have collaborated with Investor Guide 360 in opening a new avenue of knowledge for the country’s investors,” said AMZ MAK Capital Executive Chairman Aref Mohammed alZarouni in an emailed statement.

The website is going to be re-launched in Pakistan by the first quarter of 2014. It will feature comprehensive coverage on various topics, including stocks, commodities, foreign exchange, mutual funds, banking schemes, Islamic finance, insurance and other personal finance schemes, on a single platform. New stakeholders also plan to expand this portal into the UAE and other Gulf Cooperation Council (GCC) countries within 24 months, Jafri said.

“Investor Guide 360 will connect 10 regional markets, benefiting more than 500 million people, by creating a truly global, social investor network,” he added.

According to AMZ MAK Capital co-chairman Alikhan, tremendous growth opportunities exist in technology-led businesses in the GCC and Pakistan, especially in the financial services industry. “We are pioneering a technology revolution in the financial sector to create unprecedented value for millions of investors around the globe. We will nurture creative business ideas emerging from this region, especially from Pakistan, and blend technology with cutting-edge creativity to bring efficiency in markets,” Alikhan added.

“We envision revolutionising the way people learn, analyse, and invest in financial markets.”

A business journalist by profession, Jafri says he is expanding the idea of a financial research website into full-fledged investor social network after two years of incubation period. He takes pride in the fact that his website meets all informational needs of retail investors while providing state-of-the-art personal finance tools for ordinary people.

“Investor Guide 360 is the top capital markets research portal in Pakistan, as it attracts visitors from over 80 countries every month. It has received more than 16 million hits during 2013 alone. Research articles on the website have received over seven million readers this year,” Jafri noted.

Published in The Express Tribune, September 22^nd, 2013.

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