DUBAI: Estithmar Holding marked a significant milestone by celebrating the listing of its inaugural Sukuk in Qatari riyals on the London Stock Exchange (LSE).
The historic event represents not only the first Sukuk listing in Qatari riyals at the LSE but also emphasises the expanding horizons of Qatari financial instruments in global markets.
The market opening ceremony was in the presence of Mohammed bin Bader Al-Sada, Group CEO of Estithmar Holding, alongside prominent executives from the company and key figures from the London Stock Exchange,
Estithmar Holding’s successful issuance of QAR 500 million in corporate Sukuk, featuring an annual profit rate of 8.75 per cent, not only underscores the vibrancy of the Qatari economy but also marks the beginning of a broader QAR 3.4 billion Sukuk programme that has garnered substantial interest from both domestic and international investors.
Growth strategy
The diverse composition of investors, including banks, insurance firms, and asset management companies, speaks volumes about the confidence in the company’s strategic direction and the overall health of the market.
Mohammed bin Bader Al-Sada articulated the broader significance of this listing, asserting, “This issuance demonstrates confidence in Qatar’s robust economy and highlights the ability of the Qatari private sector to expand both domestically and internationally.”
He further emphasised that the Sukuk programme is integral to Estithmar Holding’s growth strategy, facilitating expansion across seven countries in four sectors and contributing to value creation.
