Estithmar Holding has made history with the first-ever listing of a corporate Sukuk denominated in Qatari Riyals on the London Stock Exchange (LSE). The event took place this morning at the LSE headquarters, marking a significant milestone for both the company and the exchange, as it is the first time Qatari Riyals have been used for such a listing.
A special market-opening ceremony was held to mark the occasion, attended by Estithmar Holding’s Group CEO, Eng. Mohammed bin Bader Al-Sada, and Shrey Kohli, Head of Debt Capital Markets and Issuer Services at the LSE. Senior figures from Qatari financial institutions, legal representatives, and the media were also present. Among the notable attendees were Mohammed Ismail Al-Emadi, CEO of Lisha Bank, Ahmed Hashem, Acting CEO of Dukhan Bank, and Akber Khan, Acting CEO of Al Rayan Investment, who all represented the joint lead managers for the issuance.
The listing follows the successful issuance of QAR 500 million in corporate Sukuk, the first tranche of Estithmar Holding’s broader QAR 3.4 billion Sukuk programme. The Sukuk, which offers an annual profit rate of 8.75%, generated significant interest from investors, including banks, insurance firms, and asset management companies, signalling strong confidence in the offering. The issuance is part of a long-term plan to strengthen Estithmar Holding’s financial standing and fuel its growth strategy.
Eng. Mohammed bin Bader Al-Sada, CEO of Estithmar Holding, spoke at the ceremony, describing the listing as a landmark achievement for both the company and Qatar’s private sector. “This issuance underscores the strength of Qatar’s economy and the ability of its private sector to expand beyond borders, bolstered by supportive government initiatives,” he said. Al-Sada added that the Sukuk programme is crucial to the company’s broader plans for expansion. “Estithmar Holding now operates across seven countries in four sectors, and this programme will further support our growth and value creation strategy.”
The event saw the participation of representatives from legal and consultancy firms, including Charbel AbuCharaf, Managing Partner at White and Case Qatar, who helped facilitate the listing. The ceremony emphasised the collaborative effort between Qatari and international entities to make this milestone possible.
The London Stock Exchange has been positioning itself as a major global hub for Islamic finance, and this listing reinforces its status. Estithmar Holding’s choice of Qatari Riyals for the issuance on such a prestigious platform highlights the growing influence of Qatar’s economy on the international stage. It also sets a precedent for other Qatari firms to explore global financial markets for future funding opportunities.
With this latest listing, Estithmar Holding continues to build on its reputation as a leader in both domestic and international markets, driven by strategic investments and an ambition to grow its footprint across multiple sectors.
