Qatar's Aamal to list on London bourse
Doha, May 19, 2011
Qatar's Aamal Company will list its shares on the London Stock Exchange in June as global depositary receipts (GDRs), the diversified trading, property and industrial company said.
Aamal, which makes industrial materials including electric cables, and also has trading and property businesses, will list up to 118.8 million shares, or 24 per cent of its share capital, in the form of GDRs to institutional investors.
'We see major opportunities coming into Qatar. This will increase our visibility and provide more liquidity to international investors seeking more exposure to Qatar's powerful economic growth story,' Aamal's chief operating officer Mohamed Dobashi was quoted as saying in a report in our sister newspaper Gulf Daily News (GDN).
After the listing, Aamal's free float is expected to increase from approximately 0.3 per cent to a maximum of 24.3 per cent.
Citi and HSBC are joint global co-ordinators and bookrunners for the offering and Arab African International Bank is co-lead manager.