The Commercial Bank of Qatar is the first Qatari bank to be admitted to listing on the Official List of the Financial Services Authority and traded on the London Stock Exchange's regulated market for listed securities. On admission, The Commercial Bank of Qatar had a market capitalisation of approximately $8.6bn.
The Commercial Bank of Qatar transaction is further evidence of Clifford Chance's market leading Middle Eastern equity markets practice and of the successful combination of the firm's London listing expertise and extensive US cross-border securities practice in the emerging markets. For example, Clifford Chance recently advised Global Investment House, a Kuwaiti investment company, on its $1.15bn GDR listing in London, the first listing of its kind by a Kuwaiti company, and in November 2007, the firm advised DP World on its IPO and Dubai International Financial Exchange listing, the largest Middle Eastern IPO to date. In addition, Clifford Chance has advised the underwriters on IPOs in Poland, Romania and Slovenia within the past three months.
Clifford Chance was ranked number one for issuer mandates on EMEA IPOs in 2007 and the first quarter of 2008, and number three for underwriter mandates by number of deals in 2007 in the Thomson Financial legal advisor league tables.
London Capital Markets partner, Simon Thomas said: "These recent transactions reflect not only the strength and depth in our ECM capabilities, but show that, despite the challenging market conditions, strong issuers with a persuasive equity story are still able to get IPOs away."
An integrated equity capital markets teams of UK and US lawyers in London advised The Commercial Bank of Qatar. Partners Simon Thomas and Robert Trefny led the team, assisted by senior associate Catherine Moroz and associates Alex Roussos and Chad Wolfe.
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Clifford Chance advises on first Qatari bank listing in London
- Qatar: Thursday, July 17 - 2008 at 07:16
- PRESS RELEASE
Global law firm Clifford Chance recently advised The Commercial Bank of Qatar (Q.S.C.), the second largest bank incorporated in Qatar, on its successful $700m global depositary receipt ("GDR") offering and London listing.
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1. Capital Markets: The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres.The combination of local knowledge with an international perspective enables us to provide practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.
Consistently ranked as the 'best legal practice for securitisation' by key commentators, the Clifford Chance International Securitisation Group is at the forefront of the securitisation markets across the world. The Group advises most of the leading market participants and provides an in-depth knowledge of complex issues relating to the securitisation of a broad spectrum of assets.
Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety off industries including energy, transport, infrastructure projects, and real estate.
1. Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the three key markets of the Americas, Asia and Europe and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 27 offices in 20 countries and 3,800 legal advisers.
For further information about this release contact Fiona Grafton on +44 (0)20 7006 2824
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, July 17 - 2008 at 07:16 UAE local time (GMT+4)
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