Doha, Qatar — Estithmar Holding (Estithmar) announced the establishment of a QR 3.4 billion ($933 million) Trust Certificate Issuance Program for trust certificates to be issued by Estithmar Sukuk Limited.
The Program is expected to be admitted to the London Stock Exchanges International Securities Market (ISM) and has been rated (qaBBB) with a stable outlook at the national scale rating by Capital Intelligence Ratings Ltd (CI), Estithmar said.
The establishment of this program is in line with Estithmar Holding’s regional and international business expansion plan in key strategic growing sectors as it aims to attract additional funds that will further support the company’s strategic planned financial growth, Estithmar noted.
The program, which is designed to support the company’s multifaceted ventures in Qatar, Iraq, Algeria, Kazakhstan, Maldives, and beyond, reflects the organization’s commitment to sustained growth and to reinforcing its position as a strategic player in key growing sectors such as healthcare and hospitality in the global landscape.
Group CEO of Estithmar Holding Eng. Mohamed bin Badr Al Sadah said the launch of the plays an instrumental role in the group’s growth journey and further increasing value for its investors through strategic sectors in growing markets in Qatar and beyond.