Professional Documents
Culture Documents
Will 2013-14 be
a good year to
raise capital?
Yes: 78%
No: 7%
Have global
equity markets
turned a corner?
Yes: 67%
No: 15%
Atop improved
liquidity and profile,
we also felt that
a London listing
would help us draw
international talent
Pramod Balakrishnan, CFO, Al Noor
Hospitals Group
to Bank Muscat in Oman have found it
particularly attractive.
According to T. Ganesh, CFO of
Bank Muscat, the bank opted for the
Luxembourg Stock Exchange for debt
with its initial Euro Medium Term
bonds in 2004. However, when it came
to raising equity via a GDR programme
in 2005, Ganesh says there was nothing
to beat the LSE.
The LSE met five of our key
ambitions diversify Bank Muscats
shareholding, place an Omani firms
credentials on a global stock exchange
[and get visibility from it], improve
value creation for our shareholders by
bringing in foreign investment, have
a larger reach in terms of fundraising,
with similar disclosure requirements
and governance parameters.
Given that Bank Muscat was the first
corporate in Oman to list a GDR on the
LSE, it set a precedence for a regulatory
Algeria
Company: Gulf Keystone (AiM shares)
Sector: Oil & Gas
Date of listing: 8 September, 2004
Finance contact: Ewen Ainsworth, FD
London market cap*: 1.84bn
Tunisia
Company: BIAT (Depositary Receipts)
Sector: Banking
Date of listing: 18 February, 1998
Finance contact: Slaheddine Ladjimi, MD
algeria
tunisia
Morocco
Lebanon
Morocco
Company: BMCE Bank (Depositary Receipts)
Sector: Banking
Date of listing: 10 April, 1996
Finance contact: Othman Benjelloun, chairman
Company: Solidere
(Depositary Receipts)
Sector: Real Estate
Date of listing: 4 December, 1996
Finance contact: Nasser Chammaa,
chairman
London market cap*: 71.44mn
Egypt
Company: Commercial International Bank
(Depositary Receipts)
Sector: Banking
Date of listing: 31 July, 1996
Finance contact: Hisham Ezz Al-Arab, chairman
London market cap*: 28.14mn
Company: Centamin (Ordinary shares)
Sector: Mining
Date of listing: 6 November, 2009**
Finance contact: Pierre Louw, CFO
London market cap*: 487.17mn
We wanted to place
an Omani firms
credentials on a global
stock exchange and
get visibility from it
T. Ganesh, CFO, Bank Muscat
Kuwait
lebanon
iran
iraq
jordan
kuwait
egypt
Bahrain
saudi
arabia
UAE
bahrain
qatar
uae
Jordan
Company: Arab Potash (Depositary Receipts)
Sector: Industrial Minerals
Date of listing: 15 December, 1997
Finance contact: Jamal A.M. Al-Sarayrah, chairman
Oman
oman
Company: BankMuscat
(Depositary Receipts)
Sector: Banking
Date of listing: 5 October, 2005
Finance contact: T Ganesh, CFO
London market cap*: 27.70mn
Qatar
Company: Ooredoo
(Depositary Receipts)
Sector: Telecommunications
Date of listing: 19 July, 1999
Finance contact: Ajay Bahri, CFO
Company: Qatar Investment Fund (Ordinary Shares)
Sector: Investment
Date of listing: 13 May, 2011**
Finance contact: Nicholas Wilson, chairman
London market cap*: 148.91mn
Change in governance
standards is palpable,
helped by Capital
Market Authorities
moving things in the
right direction
There is reputational
positivity associated
with being quoted on
a specific list in London
Adnan Fazli, director, transaction &
restructuring services, Middle East,
Deloitte