Doha - In a move to become a giant regional entity in the fields of transport, supplies, and logistics services, Ali Iskandar Al Ansari and Partners Company (AIAP - Qatar) yesterday announced a private placement for the company's capital increase, from QR36m to QR450m.
Formally known as Ali Iskandar Al-Ansari and Sons Company (AIAS), the new entity is now AIAP - Qatar with entry of Sheikh Mohammad bin Suhaim Al Thani and Capivest Investment Bank - Bahrain as strategic partners. Both Qatari companies together hold 65 per cent stake and Capivest 35 per cent stake. Capivest Investment Bank signed an agreement with Al Rayan Company, the investment arm of Al Rayan Bank - Qatar, to act as placement agent in Qatar for AIAP.
Ismail Al Ansari, Managing Director of AIAP, said the company was in the process of executing the private placement by offering 59.8 percent of the capital of Gulf Holding Company to Qatari investors, with a value approaching QR404m, and 32.2 per cent of the capital of Capitra Investment to Gulf, Arab and foreign investors, with QR217m.
Thus, the value of shares offered totals QR621m. Both companies offered for subscription will own two strategic stakes in AIAP, with Qatari stake being at least 50 percent of AIAP's capital, he added. "By expanding its ownership base and increasing its capital, the company seeks to attract more strategic partners to implement the expansion plan over the near future."
Ali Iskandar Al Ansari, Chairman of Ali Iskandar Al Ansari and Sons Company (AIAS), said in view of the increasing demand in transport, supplies, and logistics services sector in Qatar, and the region, the offering is of a particular importance. "Alliances of the new entity, coupled with the diversified potential of the company, qualifying it to maintain a distinctive foothold in this area, are equally significant," he added.
Nabeel Mohammad Hadi, CEO of Capivest Investment Bank, said, "Capivest Investment Bank has decided to enter into the strategic partnership upon a careful study of the company's position, and future outlook of the sector, Qatari and GCC economies."
© The Peninsula 2008
