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Henry Azzam, Chairman of the DIFX, said:
"This primary listing is an enormously significant milestone in the development of the exchange as a listing forum of international stature. It is the first ordinary share listing on the DIFX by any company. In addition the issuer is a very prominent and high profile firm."
"We expect this to be followed by many other significant equity listings. This will enable the DIFX to develop a thriving level of trading in a wide range of securities."
The flotation is the first by a company controlled by HRH Prince Al Waleed Bin Talal. KHI is a major hotel and resort acquisition and development company in the Middle East and Africa, headquartered in the Dubai International Financial Centre. It has said it intends to use the net proceeds from the offering to finance the expansion of its portfolio of hotel investments through acquisitions and new developments and for other general corporate purposes.
KHI is also issuing global depositary shares on the London Stock Exchange in a secondary listing.
Sarmad Zok, Chief Executive of KHI commented: "The decision to list the shares on the DIFX reflects the company's wish to maximise regional participation in its initial public offering.
"The DIFX is committed to international best practice in terms of regulation, and is set up to allow unrestricted and easy access for local and international investors."
Nasser Alshaali, Chief Operating Officer of the DIFX, said: "KHI is the latest of a series of prominent companies to list products on the DIFX. We are delighted that it has chosen this exchange as its main listing venue. This is further evidence that the DIFX is succeeding in establishing itself as the leading exchange its region."
Posted by Anne-Birte Stensgaard, Senior News Editor
