OREANDA-NEWS. Renaissance Capital is pleased to announce that the Firm has been granted a Dubai operating licence by the Dubai Financial Services Authority for the establishment of Renaissance Capital (Dubai) Ltd.

Igor Vayn, CEO, Renaissance Capital, said "The Middle East and North Africa region is a key element of Renaissance Capital's Emerging EMEA growth strategy and frontier markets build-out, with more than USD 1trn in market capitalisation, 1,500 traded stocks and c. USD 3bn in daily turnover. The newly established Dubai office nicely complements the Firm's footprint in Sub-Saharan Africa, enabling it to make the product offering to institutional clients much more sophisticated and more comprehensive."

Ahmed Badr, Senior Executive Officer for Renaissance Capital in Dubai and Head of MENA Equities, commented "The addition of the Dubai office to our product offering fits very well with our goal of providing investors with best-in-class research, trading, banking and access to the broader MENA region, as global institutional investors are gradually shifting their focus to frontier markets. We believe that this further enhances the importance of the MENA region and its untapped opportunity."

Renaissance Capital has recently launched trading in the markets of Saudi Arabia, Qatar, Kuwait, Morocco, Oman, Tunisia and the UAE, in addition to existing capabilities in Egypt.

Earlier this year, the Firm hired Ryan Ayache as Senior Banking Analyst, MENA and Digvijay Singh as a Senior Generalist Analyst, MENA, based in Dubai. Renaissance Capital's award-winning research team has initiated coverage of nine regional stocks and aims to grow this further in the next few months.

Renaissance Capital is a leading emerging and frontier markets investment bank with operations in Russia, Eastern Europe, Middle East, Asia and Africa. The Firm also offers its clients access to these markets through such financial centers as London and New York. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research and derivatives. The Firm is building market-leading practices across emerging markets globally in metals & mining, oil & gas and agriculture Renaissance Capital is part of ONEXIM Group.