Estithmar Holding celebrated the listing of its first Sukuk in Qatari Riyals on the London Stock Exchange, marking the first time that the exchange has witnessed a listing in Qatari riyals. The market open ceremony for the listing was attended by key executives from the company, as well as representatives from joint lead managers of the issuance and Qatari financial institutions.
The Sukuk issuance, worth QAR 500 million with an annual profit rate of 8.75%, is the inaugural tranche of Estithmar Holding’s QAR 3.4 billion Sukuk program. The issuance garnered significant interest from investors, including banks, insurance companies, and asset management companies. The successful listing on the London Stock Exchange is seen as a significant milestone for the company and a key component of its growth strategy.
Eng. Mohammed bin Badr Al-Sada, CEO of Estithmar Holding, emphasized the importance of the listing for the Qatari economy, showcasing confidence in Qatar’s robust economy and the ability of the Qatari private sector to expand both domestically and internationally. He also highlighted the role of government initiatives in creating an environment conducive to growth and development for companies like Estithmar Holding.
The listing ceremony was attended by representatives from various financial institutions, including Mohammed Ismail Al-Emadi, CEO of Lisha Bank, Ahmed Hashem, acting CEO of Dukhan Bank, Akber Khan, acting CEO of Al Rayan Investment, and Haithem Katerji, CEO of The First Investor. The presence of these industry leaders underscored the significance of the listing for both Estithmar Holding and the wider Qatari financial sector.
The successful listing of Estithmar Holding’s Sukuk on the London Stock Exchange is a testament to the company’s strong performance and growth prospects. The issuance is expected to facilitate further expansion and value creation for the company as it continues to operate in multiple countries across different sectors. With the support of government initiatives and a conducive business environment, Estithmar Holding is well-positioned for continued success in the future.
Overall, the listing of Estithmar Holding’s Sukuk on the London Stock Exchange represents a significant achievement for the company and a positive development for the Qatari economy. The successful issuance and listing demonstrate confidence in Qatar’s economic stability and the ability of Qatari companies to thrive in both domestic and international markets. With a strong growth strategy in place, Estithmar Holding is poised to continue its expansion and value creation in the years to come.
