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Doha, Qatar: Al Rayan Investment LLC, a Doha based Shari'ah compliant investment firm, and a wholly-owned subsidiary of Masraf Al Rayan, has successfully advised Qatar First Bank (QFB) on its debut listing on the Qatar Stock Exchange (QSE).
Al Rayan Investment acted as the "Sole Listing Advisor" for QFB, a leading Shari'ah compliant bank based in Qatar, which offers investment opportunities and innovative financial solutions with local, regional and international reach. The listing on the domestic bourse is a landmark transaction, which marks several significant milestones including: (i) the first new listing on the QSE in 2016; (ii) the first Qatar Financial Center licensed entity to be listed on the QSE; (iii) the first private sector entity to be listed on the QSE in six years; (iv) and the first bank to be listed on the QSE in nine years.
Commenting on the listing, Mr. Haithem Katerji, Chief Investment Officer of Al Rayan Investment, said:
"This transaction demonstrates not only Al Rayan Investment's leading position in the Qatari market, but also our strong execution capabilities, tenacity and professionalism for successfully completing strategically important transactions for our clients. We remain committed to fulfilling our clients' investment banking needs as their "trusted advisor", by adopting a partnering approach and leveraging our knowledge of the local regulatory requirements".
Mr. Ziad Makkawi, QFB's Chief Executive Officer, said:
"Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general. The listing represents another significant milestone in the Bank's quest to grow, expand its offerings and provide a 'Signature of Excellence' to its clients".
Mr. Makkawi added:
"Al Rayan Investment worked closely with us to understand our strategic requirements and goals as well as our shareholders objectives and managed the transaction through an intense process to ensure seamless execution within a short period of time."
QFB will be listed under the Banking and Financial Services Sector on the QSE with a share trading symbol "QFBQ" as announced by the QSE. The guiding trading price for the first day of trading will be QAR 15.0 per share with a price fluctuation limit of 30% up or down, which will be permitted only for the first day of listing; however, on the second day and thereafter a price fluctuation limit of 10% up or down will apply as is the case for all other listed companies.
Mr. Katerji added:
"We believe QFB's listing will pave the way for other listings on the QSE, including Al Rayan Qatar Exchange Traded Fund (Al Rayan ETF), the first exchange Traded fund in Qatar, which is expected to be launched in the coming months. Al Rayan ETF is expected to further contribute to the development of the local capital market by improving market depth and liquidity". Mr. Katerji also commended the dedication and support provided by various regulatory authorities for facilitating the listing process.
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About Al Rayan Investment
Al Rayan Investment is authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) and has a leading track record in financial advisory and asset management. Within financial advisory, Al Rayan Investment provides a broad range of capital markets, M&A and corporate finance advisory services. While, Al Rayan Investment's asset management division manages over QAR 3 billion of client assets which are invested in GCC listed equities, sukuk and money market instruments. Al Rayan Investment recently won the coveted 'Qatar Asset Manager of the Year' MENA Fund Manager Performance award in 2016 for the third consecutive year, underscoring its leadership in asset management and its rigorous investment discipline. The Asset Management division has been mandated by Masraf Al Rayan to be the fund manager of the upcoming Al Rayan ETF.
About Qatar First Bank LLC
Qatar First Bank (QFB) is one of the first independent Shari'ah compliant financial institutions regulated by the Qatar Financial Centre Regulatory Authority. Launched in 2009 as an investment bank, QFB has since evolved to broaden its offering to combine the best of a private bank with bespoke investment solutions tailored for the protection, preservation and growth of wealth. QFB has a diversified shareholder base of prominent individuals and institutions from Qatar and the GCC. QFB's team of professionals have the knowledge and expertise to provide world class, exclusive and cutting edge financial solutions underpinned by the Bank's commitment to deliver excellence in all aspects of business. www.qfb.com.qa
For information, please contact:
Al Rayan Investment: Saria Mahir
· Email: saria.mahir@alrayan.com
· Tel: + +974 4423 5920
QFB: Mohamed Imran, Marketing Officer on:
· Email: marketing@qfb.com.qa
GREY Doha: Denise Yammine Chouity, Group Account Director on:
· Tel: + 974 4428 3111
· Mobile: + 974 33318761
· Email: denise.yamine@greydoha.com
© Press Release 2016
