BY SACHIN KUMAR
Doha: Trend to lift supports from tellurian investors is gaining movement in a Mena (Middle East and North Africa) segment as some-more companies are going to European markets to lift capital.
In a past 3 years, 11 companies have listed shares on a London Stock Exchange to lift income from tellurian investors.
Out of sum 11, 8 companies are from GCC countries, including one from Qatar.
“London’s position during a heart of a tellurian financial village is one of a reasons that so many general companies select to join a markets. Many of a world’s heading investment houses and financial institutions are formed here,” pronounced Ibukun Adebayo, Co-Head of Emerging Markets, London Stock Exchange.
“London’s veteran investors are famous for their outward-looking approach, charity companies from around a universe entrance to a low and far-reaching pool of investment capital,” he said.
One of a categorical reasons for companies to list shares on a London Stock Exchange is participation of tellurian investors. Listing shares outward of their countries also gives event to a companies to variegate their source of lifting funds.
Maximum companies listed on a London Stock Exchange in a final 3 years are from UAE. Since 2011, 6 companies from UAE have listed on a exchange, while rests were from Kuwait, Tunisia, Egypt and Qatar. Qatar Invest Fund had listed a shares on a London Stock Exchange in 2011. From Qatar, Commercial Bank was a initial Qatari bank to list a Global Depository Receipts (GDRs) a London Stock Exchange in 2008.
Last year dual companies, Damac Real Estate and Al Noor Hospitals lifted collateral from Europe. Damac Real Estate Development lifted $400m by arising Global Depository Receipts in December, 2013. It was a initial UAE skill association to list in London and was a largest IPO (Initial Public Offer) by a Middle Eastern association in London given 2005.
Al Noor Hospitals undertook a second largest general IPO on LSE in Jun 2013 and lifted $342m. In Mar this year, Abu Dhabi’s Gulf Marine Services lifted $100m and took a reward inventory on a Main Market.