Estithmar Holding Launches First Corporate Sukuk In Qatari Riyals On LSE

This morning, Estithmar Holding marked a significant milestone by initiating the listing of its inaugural Sukuk, valued in Qatari Riyals, on the London Stock Exchange (LSE). This event is as it represents the first occasion that the LSE has hosted a listing in Qatari Riyals, underscoring a growing interest in diverse currency offerings within international financial markets. The ceremony, held at the LSE's headquarters, not only celebrated this achievement but also highlighted the expanding global footprint of Qatari investments.

The launch event saw the presence of Eng. Mohammed bin Bader Al-Sada, Group CEO of Estithmar Holding, alongside key company executives, demonstrating the significance of this listing for the firm. Mr. Shrey Kohli, Head of Debt Capital Markets and Issuer Services at the LSE, along with members of his team, were also in attendance, reflecting the close collaboration between the two entities. Additionally, leaders from Qatari financial institutions and the joint lead managers of the issuance, including Mr. Mohammed Ismail Al-Emadi of Lisha Bank, Mr. Ahmed Hashem of Dukhan Bank, Mr. Akber Khan of Al Rayan Investment, and Mr. Haithem Katerji of The First Investor, participated in the ceremony. Mr. Charbel AbuCharaf, Managing Partner at White and Case Qatar, along with representatives from legal and consultancy firms, further underscored the broad support and interest this listing has garnered.

Estithmar Holding recently disclosed the successful issuance of its first corporate Sukuk in Qatari Riyals, amassing QAR 500 million with an annual profit rate of 8.75%. This issuance is the first part of a comprehensive QAR 3.4 billion Sukuk program by Estithmar Holding, which has captured the attention of a wide array of investors. The initiative attracted investments from banks, insurance firms, and asset management companies, underscoring its appeal across the financial sector. This successful issuance not only signifies confidence in the Qatari economy but also positions Estithmar as a pivotal player in the global financial market.

Eng. Mohammed bin Badr Al-Sada, CEO of Estithmar Holding, articulated the significance of this financial maneuver, stating, "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." He further emphasized the strategic importance of the Sukuk program for Estithmar Holding's growth and expansion ambitions, "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."

In summary, the listing of Estithmar Holding's Sukuk in Qatari Riyals on the London Stock Exchange underscores a strategic leap in the company's growth plans and a testament to the Qatari economy's vibrancy. This pioneering move not only opens new avenues for international investors but also signifies the Qatari private sector's burgeoning presence on the global stage. As Estithmar Holding continues to diversify and expand its operations across different countries and sectors, the success of this Sukuk issuance heralds a promising future for the company and its stakeholders.