The pricing has been set at $7.50 per GDR, with each GDR representing an interest in 0.20 ordinary shares.
Conditional dealings in the GDRs are expected to commence on the London Stock Exchange today. Admission of GDRs to the Official List of the UK Listing Authority, and unconditional dealing of the GDRs on the London Stock Exchange's main market under the symbol CBQS (for the Regulation S GDRs) and CBQA (for the Rule 144A GDRs), is expected to take place on 2 July 2008. The prospectus in connection with the offering is expected to be published today.
CBQ's ordinary shares are listed on the Doha Securities Market (DSM) and trade under the symbol CBQK.
Morgan Stanley Co. International plc (Morgan Stanley) is acting as the Sole Bookrunner and Global Coordinator while Société Générale is the Lead Manager for the offering.
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The Commercial Bank of Qatar announces pricing of GDR Offering
- Qatar: Saturday, June 28 - 2008 at 11:29
- PRESS RELEASE
The Commercial Bank of Qatar (Q.S.C), one of the leading commercial banks in Qatar offering a wide range of corporate, retail and Islamic banking services, today announces the pricing for its international offering (the "Offering") of global depositary receipts representing its ordinary shares (GDRs).
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Notes and media contacts
CBQ is one of the leading commercial banks in Qatar, offering a wide range of corporate, retail and Islamic banking services and products to its customers in Qatar. CBQ is the second largest bank incorporated in Qatar based on, as at 31 December 2007, total assets (with a market share of 15.3% of all assets of banks operating in Qatar), loans and other advances (15.2% market share of all loans and advances of banks operating in Qatar), total deposits (15.4% market share of total deposits of banks operating in Qatar) and net profits (QR1.4bn)Since its incorporation in 1975, CBQ has, through organic growth and strategic investments in banks established in other Gulf Cooperation Council countries, become a regional banking group, with a strong presence in Qatar and, through its associates, National Bank of Oman and United Arab Bank, a strong presence in Oman and a developing presence in the United Arab Emirates.
For further information please contact:
Jennifer Martin
Capital MS&L London
Tel: +44 20 7307 5335
Neil Doyle
Capital MS&L Middle East
Tel: +971 50 843 2465
Michael Azmi-Low, Doha
Commercial Bank of Qatar
Grand Hamad Street
P.O. Box 3232, Doha
Tel. +974-449-0163
Sarmad Lone, Dubai
Morgan Stanley
Dubai International Financial Centre
Level 5, The Gate - West Wing
PO BOX 506501
Tel. +971(0)4 363 4832
Posted by Eman HassanSaturday, June 28 - 2008 at 11:29 UAE local time (GMT+4)
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