Global GDRs listed on London Stock Exchange
London, May 27, 2008
Global Investment House, a leading asset management and investment banking company operating across 16 countries in the GCC and the wider Mena region, has listed its Global Depositary Receipts (GDRs) on the regulated market for listed securities of the London Stock Exchange plc (LSE) (ticker GLOB).
The London markets were opened by executive vice-president of Global Omar El-Quqa.
The welcome ceremony was hosted by non-executive director at LSE Baroness Cohen along with other senior members of the exchange.
“This is an exciting day for Global and we are proud to be the first Kuwaiti company to list GDRs on the London Stock Exchange. I would like to thank everyone for their interest in Global. We have been able to add a respected international institutional investor base to our shareholders which will help us maintain our leadership position,” said El-Quqa.
Global is also listed on the Kuwait Stock Exchange, Bahrain Stock Exchange and the Dubai Financial Market.
Global raised $1.15 billion by issuing Global Depository Receipts. The company has a market cap of over $5 billion – making it the largest private sector investment company in the entire GCC and broader Mena region.
Global has become the 34th company from the Middle East to list on the exchange and the fifth this year.
HSBC was appointed as sole global coordinator and Deutsche Bank AG, London Branch, HSBC, JPMorgan and UBS Investment Bank were appointed joint bookrunners for the Offer. Global acted as co-lead manager. – TradeArabia News Service