HSBC takes Qatari firms to investors in NY
Web posted at: 5/21/2008 7:5:31
Source ::: The Peninsula
Doha • Nine listed companies from the Doha Securities Market (DSM) are presenting to some of the world’s largest investment companies in New York. The event is organized by HSBC, as part of its promotion of Qatar to its worldwide clients.
In addition to the DSM itself, the companies presenting are: Industries Qatar, Qatar National Bank, Gulf International Services, al khaliji Bank, Qatar Islamic Bank, Qatar Telecom, Dlala, Barwa, and Aamal.
Investor interest in the visit is strong: More than 50 investors have signed up to meet the companies, representing hundreds of billions of assets under management.
“New York is the gateway to the world’s largest capital market, and the world’s largest investor population,” said Paul Cooper, Head of Emerging Market Equities for HSBC. “In today’s environment, the Gulf in general and Qatar in particular have a powerful story to tell to international investors. We are here to tell that story in detail, and to explain the Qatar advantage to the American institutional investor community.” HSBC, the largest international bank in the Middle East, is arranging the presentations. HSBC is a leading international trader on the Doha Securities Market, and the sole authorized custodian on the market.
“Qatar has one of the world’s highest GDP per capita numbers, abundant natural resources, a can-do attitude to business, and a well-regulated, actively traded stock exchange. Put all these factor together, and you have a compelling proposition for international investors,” Cooper said. The keynote address was delivered by HSBC Qatar’s Head of Investment Banking, Kapil Chadda, who said: “Qatar represents one of the most compelling Emerging Markets stories in the Middle East over the next few years, with fundamental annual growth predicted in excess of 10 percent, and a desire to diversify its economy and build its infrastructure with world leaders in their respective fields. This gives emerging markets investors a good opportunity to get close to some of the key players from Qatar.”
The purpose of the presentations is to introduce the companies face-to-face to the international investment community, in order that they can deliver detailed strategic plans and overviews. The Doha Securities Market has had a strong year so far, with the index of leading shares rising by 23 percent in the year to date.
HSBC was the world’s leading arranger of IPO’s in the first quarter of 2008, with a particularly strong performance in the Middle East.