Dubai – November 18, 2013 – Capital MSL, the international corporate and financial communications consultancy, announces its role in advising the Bank of London and the Middle East (BLME) on the first successful listing on NASDAQ Dubai in more than four years.
On 8th October, BLME, the largest independent wholesale Sharia'a compliant Bank in Europe, completed a successful primary listing on NASDAQ Dubai, demonstrating the Bank's confidence in the development of the region's Islamic industry and commitment to growing its business in the Middle East.
BLME listed 195,733,691 shares under the name ‘BLME Holdings plc' on NASDAQ Dubai. The Bank raised no new capital and issued no new shares. The listing price of each new BLME Holdings plc share implied a market capitalisation of approximately $503 million.
Capital MSL provided strategic counsel, corporate communications and media relations support to BLME around the listing, focusing on building the Bank's brand profile in the region by raising visibility among key media and investors. In addition, Capital MSL worked with the Bank on its first day of trading and provided post-offering communications support to BLME.
Kate Delahunty, Managing Director, Capital MSL Middle East, said:
“BLME's listing on NASDAQ Dubai comes at a crucial time in the development of the UAE's Islamic finance industry and brings Dubai closer to becoming an international centre for Islamic finance. We are very pleased to have collaborated in the success of the listing and look forward to working with BLME as the firm grows its business both in the Middle East and the UK.”
Humphrey Percy, BLME Chief Executive, added:
“I believe this was the right time to list given the current market conditions and the increasingly prominent role Dubai holds in the Islamic finance industry. Dubai's ambition greatly supports BLME's position as a market leading Sharia'a compliant Bank.
“Capital MSL provided excellent counsel throughout the process and demonstrated a thorough knowledge and understanding of the local marketplace which undoubtedly contributed to the overall success of the listing.”