London: Estithmar Holding commemorated today, September19, the listing of its initial Sukuk in Qatari Riyals on London Stock Exchange, at the Stock Exchange’s head office. This is the very first time that London Stock Exchange has actually observed listing in Qatari riyals.
The market open event for the listing of Estithmar Holding Sukuks was participated in byEng Mohammed container Bader Al-Sada, Group CHIEF EXECUTIVE OFFICER of Estithmar Holding, along with crucial execs from the firm, Shrey Kohli, Head of Debt Capital Markets and Issuer Services in London Stock Exchange, participants of the LSE group, and a team of media agents.
The event was likewise participated in by agents of the joint lead supervisors of the issuance and Qatari banks; Mohammed Ismail Al-Emadi, CHIEF EXECUTIVE OFFICER of Lisha Bank, Ahmed Hashem, acting chief executive officer of Dukhan Bank, Akber Khan, acting chief executive officer of Al Rayan Investment and Haithem Katerji, CHIEF EXECUTIVE OFFICER ofThe First Investor The event was participated in likewise by Charbel AbuCharaf, Managing Partner, White and Case Qatar along with agents of lawful and working as a consultant companies.
Estithmar Holding just recently introduced its effective issuance of the initial business Sukuk denominated in Qatari Riyals, worth QAR 500 million, with a yearly earnings price of 8.75%. This issuance is the inaugural tranche of Estithmar Holding’s QAR 3.4 billion Sukuk program which made excellent rate of interest from capitalists and governmental and non-governmental establishments. The listing of capitalists consisted of financial institutions, insurer, and property monitoring business.
Commenting on the occasion,Eng Mohammed container Badr Al-Sada, CHIEF EXECUTIVE OFFICER of Estithmar Holding, highlighted the importance of the listing to the Qatari economic situation, “This issuance demonstrates confidence in Qatar’s robust economy and highlights the ability of the Qatari private sector to expand both domestically and internationally, with support from government initiatives that create a seamless environment where companies can develop and thrive.”
Al-Sada likewise mentioned the relevance of the issuance as a turning point for the firm: “Today Estithmar Holding operates in 7 countries across four sectors and the Sukuk program we have listed on the London Stock Exchange is a key component of our growth strategy and will facilitate further expansion and value creation.”
