The first Kuwaiti company to open the London market
Global Investment House Successfully Lists Global Depositary Receipts On LSE
Global Investment House K.S.C.C. (“Global”), a leading asset management and investment banking company operating across 16 countries in the GCC and the wider MENA region, today announces that it has listed its Global Depositary Receipts (“GDRs”) on the regulated market for listed securities of the London Stock Exchange plc (“LSE”) (ticker GLOB) on 21 May 2008.
The London markets were opened by Mr. Omar El-Quqa, Executive Vice President of Global. The welcome ceremony was hosted by Baroness Cohen, Non-Executive Director at LSE, along with other senior members of the Exchange.
Omar El-Quqa said: “This is an exciting day for Global and we are proud to be the first Kuwaiti company to list GDRs on the London Stock Exchange. I would like to thank everyone for their interest in Global. We have been able to add a respected international institutional investor base to our shareholders which will help us maintain our leadership position.”
Global is also listed on the Kuwait Stock Exchange, Bahrain Stock Exchange and the Dubai Financial Market.
Global raised USD1.15 billion by issuing Global Depository Receipts. The company has a market cap of over USD5 billion – making it the largest private sector investment company in the entire GCC and broader MENA region. Global has become the 34th company from the Middle East to list on the Exchange and the fifth this year.
HSBC was appointed as sole global coordinator and Deutsche Bank AG, London Branch, HSBC, JPMorgan and UBS Investment Bank were appointed joint bookrunners for the Offer. Global acted as co-lead manager.
About Global
Since its founding in 1998, Global has grown rapidly to become one of the leading asset management and investment banking companies in the GCC and the wider MENA region. With an experienced management team, led by Maha Al-Ghunaim, it now has an integrated business offering that comprises five pillars, Asset Management, Principal Investments and Treasury, Investment Banking, Real Estate and Brokerage, which together allow it to provide a comprehensive range of products to its clients.
Global has a pan-MENA platform with a presence in 16 countries including Kuwait, Bahrain, UAE, Oman, Jordan, Tunisia, Qatar, Egypt, Saudi Arabia, Sudan, Yemen, and Iran, as well as Turkey, India, Pakistan and Hong Kong.
Global has one of the largest asset management businesses in the region by reference to assets under management. Global also has one of the largest principal investment and proprietary trading operations in the region by asset size. As an investment bank, Global is a leading manager of private placements and public offerings and acts as a strategic advisor to corporations, governments, institutions and individuals in the GCC region. Global has access to a client base of approximately 6,500 individuals and institutions.
Global's ordinary shares are publicly listed and traded on the Kuwait Stock Exchange, the Bahrain Stock Exchange and the Dubai Financial Market. It trades on all of these markets under the ticker “GLOBAL”.
Market Reuters Ticker Bloomberg Ticker
Kuwait GLOB.KW GLOBAL.KK
Bahrain GIHB.BH GLOBAL.BI
Dubai GLOB.DU GLOBAL.UH
Global's operations and focus are centred in the GCC and wider MENA region, where the vast majority of its clients are based. These regions, including Saudi Arabia and Qatar, are among the world's fastest growing investable wealth markets, driven by factors such as rising energy prices and strong oil and gas production volumes, significant sovereign investments and population growth.
