Family Sharia Fund 'a major success'
Manama, August 13, 2008
The Family Sharia Fund Limited has received strong response to its IPO in London.
It was the first Sharia-compliant multi-asset class fund to gain admission to the Alternative Investment Market (AIM) in London.
The fund, which will provide investors with exposure to a variety of Sharia-compliant investments predominantly outside of the GCC region, attracted the attention of a range of shareholders including high net worth individuals and families from the Middle East as well as institutional investors from Europe.
In total, 31,550,000 shares valued at $1 each have been admitted for trading on AIM.
The company was advised by Blomfield Corporate Finance Limited in London.
It is managed by the Bahrain-based The Family Office Company.
’We are delighted by the extremely strong response we have seen in this IPO,’ The Family Office chief executive officer Abdulmohsin Al Omran said.
’It indicates that investors clearly see the opportunity for a Sharia-compliant multi-asset class fund in the London market.
’We would like to thank all those who have participated in the offer and look forward to creating long-term value for all our new shareholders.
’This offering will provide investors with a diversified pool of Sharia-compliant assets including Sharia-compliant solutions for alternative investments, real estate, private equity and sukuks,’ he said.
More Finance & Capital Market Stories
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO