Residents with any information have been urged to contact the concerned authority
emergencies5 hours ago
Investors will pay 50 per cent of the par value at the time of application, plus 2.5 per cent of the par value as establishment expenses. To ensure the widest possible participation, applicants can apply for a maximum of 5,000 shares per person. Given the part paid structure, Al Khaliji will initially raise up to QAR 600 million in capital from the IPO. Tariq Al Malki, Chairman of Al Khaliji said: "We have made rapid progress since our establishment in January this year. We have recruited a highly experienced international executive team, obtained the bulk of our capital requirements from prominent shareholders across the GCC and are building the infrastructure of a truly world-class bank. This IPO gives Qatari investors an opportunity to participate in the long term growth of the region's financial sector and the development of the nation."
Reflecting the bank's new thinking, the application process itself breaks the mould with a simplified share-buying procedure allowing investors to complete applications either online or with the tick of a box using Al Khaliji's new format.
David Proctor, Head of the Al Khaliji Executive Team said: "Like the IPO process, the services we will offer recognise that customers are demanding a radically new approach from their bank. Our aim is to provide friendly, modern, clear banking made possible by our commitment to the innovative use of new technology and dedication to customer service"
Following completion of the IPO, the bank's 191 founding shareholders, drawn from Qatar, Oman, the UAE, Kuwait and Bahrain will own 43 per cent of Al Khaliji's authorised capital. Paid at 50 per cent, their subscription in 312 million shares raised an initial QAR 1.56 billion in ordinary capital. A recent Gulf-wide Private Placement of 288 million shares (again, paid at 50 per cent) is raising another QAR 1.44 billion, or 40 per cent of the bank's authorised capital.
Residents with any information have been urged to contact the concerned authority
emergencies5 hours ago
Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world5 hours ago
The church has been built on 4.37 acres of land, and stands opposite the BAPS Hindu temple
uae5 hours ago
A detailed guide on where to apply, the steps involved, and criteria for eligibility
uae6 hours ago
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
mena6 hours ago
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
uae6 hours ago
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
mena6 hours ago
The decision aims to protect the safety and security of pilgrims
gulf7 hours ago