The Securities House is established by a group of shareholders with an authorized share capital of KD 50 million and a paid-up capital of KD 25 million.
The government of Kuwait, being represented by the Kuwait Investment Authority, also known as KIA, acquires 95% of The Securities House’s share capital due to severe economic circumstances caused by the Souk Al Manakh crisis. The Securities House’s share capital was therefore reduced to KD 18 million.
The Securities House, representing its major shareholder, the KIA, plays an important role as a market maker in the Kuwait’s Stock Exchange.
The Securities House is privatized and listed on the Kuwait Stock Exchange. 40% of the company’s share capital is placed through open auction, while another 51% of the company’s share capital is placed through a public offering.
The Securities House launches Azraq Fund for Financial Investment, the very first Shariah-complaint equity fund in Kuwait. The fund is later liquidated after a 5-year life horizon with great profitable returns to its investors.
The Securities House successfully completes the restructuring and the listing of Aref Investment Group Company transaction, which is considered to be a first in Kuwait.
The Securities House acquires Al-Ghanim Group of Companies, a leading Kuwaiti trading group that is engaged in health care, pharmaceutical, industrial, trading, communications and information sectors.
The production of Abraaj Water Factory, a product of the New Technology Bottling Company K.S.C.C (a subsidiary company of The Securities House) is initiated.
The Securities House establishes Global Securities House for Economic and Financial Consultancies (GSH) in Kuwait to become its investment arm of the company in the global real estate sector.
The Securities House’s General Assembly approves the transformation of its own company’s activities to be in compliance with Shariah principles.
The Securities House launches Diyar Real Estate Fund, as a distinguished Shariah compliant fund to invest in local and in international real estate properties.
The Securities House acquires Al-Shall Company for Economic Consultancies K.S.C through the Kuwait Stock Exchange, increasing its share capital and changing its name to Al-Aman Investment Company to become the asset management investment arm of The Securities House.
The Securities House grows its shareholders’ equity base to KD 94 million. The Securities House’s consolidated assets grow to KD 283 million, which is equivalent to the excess of USD 1 billion.
The Securities House successfully lists YIACO Medical Company K.S.C., one of the largest market players in the local pharmaceutical and medical services sector, on the Kuwait Stock Exchange.
The Securities House enters the International Islamic Banking industry by establishing its subsidiary Gatehouse plc in the United Kingdom to operate as a Shariah-compliant wholesale deposit-taking investment bank.
Gatehouse receives authorization to act as a wholesale deposit-taking bank that is regulated by the UK Financial Services Authority. Gatehouse Bank starts to develop Shariah products and spread its expertise across international markets.
Gatehouse Bank receives additional capital injection from new and existing shareholders to raise the paid-up share capital to GBP 150 million. The Kuwait Investment Authority (KIA), one of the largest sovereign funds in the world, becomes a key strategic shareholder of the bank.
Diyar Real Estate Fund is liquidated with remarkable returns to its investors.
The Securities House sells 1.8% of Gatehouse’s shares to Ameriprise Group’s Columbia Threadneedle Investments, a leading global asset manager based in London.