Family Sharia Fund 'a major success'
Manama, August 13, 2008
The Family Sharia Fund Limited has received strong response to its IPO in London.
It was the first Sharia-compliant multi-asset class fund to gain admission to the Alternative Investment Market (AIM) in London.
The fund, which will provide investors with exposure to a variety of Sharia-compliant investments predominantly outside of the GCC region, attracted the attention of a range of shareholders including high net worth individuals and families from the Middle East as well as institutional investors from Europe.
In total, 31,550,000 shares valued at $1 each have been admitted for trading on AIM.
The company was advised by Blomfield Corporate Finance Limited in London.
It is managed by the Bahrain-based The Family Office Company.
’We are delighted by the extremely strong response we have seen in this IPO,’ The Family Office chief executive officer Abdulmohsin Al Omran said.
’It indicates that investors clearly see the opportunity for a Sharia-compliant multi-asset class fund in the London market.
’We would like to thank all those who have participated in the offer and look forward to creating long-term value for all our new shareholders.
’This offering will provide investors with a diversified pool of Sharia-compliant assets including Sharia-compliant solutions for alternative investments, real estate, private equity and sukuks,’ he said.