Estithmar Holding lists the first Sukuk in Qatari Riyals, in the first Qatari Riyal listing ever on London Stock Exchange
Today, The London Stock Exchange welcomes Estithmar Holding which is celebrating listing its first corporate Sukuk in Qatari Riyals on London Stock Exchange. This is the first time ever that London Stock Exchange has witnessed a listing in Qatari riyals.
Estithmar Holding Q.P.S.C is a Qatari diversified group that owns more than 66 companies with diversified investments in multiple sectors; healthcare, services, tourism, real estate and specialised contracting. Its businesses span Qatar, Kingdom of Saudi Arabia, Algeria, Maldives, Iraq, Kazakhstan, and Jordan.
Estithmar Holding recently announced its successful issuance of the first corporate Sukuk denominated in Qatari Riyals, worth QAR 500 million, with an annual profit rate of 8.75%. This issuance is the inaugural tranche of Estithmar Holding’s QAR 3.4 billion Sukuk program which was met with great interest from investors and governmental and non-governmental institutions. The list of investors included banks, insurance companies, and asset management companies.
Commenting on the event, highlighted the significance of the listing to the Qatari economy:
“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 also pointed out the importance of the issuance as a milestone for the company:
“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.”
Eng. Mohammed bin Badr Al-Sada
CEO of Estihtmar Holding
