Header graphic for print
Al-Mirsal Insights and commentary on legal developments in the Middle East

An Alternative Market for Public Listings in Qatar

Posted in Capital Markets, M&A/ Private Equity

The Qatar Financial Markets Authority (QFMA) has created an alternative market for public listings in Qatar, unofficially dubbed the new “ventures market.” The QFMA also has adopted a new set of listing rules (the New Listing Rules) to create a separate but parallel regulatory framework for companies seeking a public listing on the alternative market…. Continue Reading

Sipchem Mudaraba Sukuk–A Transfer of Beneficial Rights

Posted in Banking and Finance, Islamic Finance

Sipchem’s recent Mudaraba Sukuk is notable as an economic success and also for its structure.  The financing represented a great addition to the tool kit available to corporate treasurers in Saudi Arabia. A Sukuk financing typically requires that: An issuer has unencumbered tangible assets available; The assets are Shari’ah compliant (i.e not related to alcohol,… Continue Reading

Wataniya Mobile’s IPO and the Potential for a Palestinian Growth Story

Posted in Capital Markets, Islamic Finance

Investing in the Palestinian territories has traditionally been laced with political and economic risk. But the successful listing of the second player in the Palestinian mobile telecommunications sector has invited a closer look at the potential for investment. 2011 saw the successful completion of the largest initial public offering (IPO) in the Palestinian territories in… Continue Reading