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Eversheds Sutherland advises Qatar First Bank LLC (Public) on a capital increase through a Rights Issue and official brand and name change to Lesha Bank L.L.C (Public)

  • Middle East
  • Qatar

    09-11-2022

    Eversheds Sutherland has advised Qatar First Bank L.L.C (Public) (the “Bank”) on the implementation of its successful capital raise of 420 million ordinary shares through a Rights Issue.

    The Bank is a leading Shari’a-compliant bank based in Qatar, registered with the Qatar Financial Centre Regulatory Authority (QFCRA) and listed on the Qatar Stock Exchange.

    The Eversheds Sutherland team was led by partner, Samer Sarkis, supported by associates Cristina Craciun and Karim Kobaissy. The transaction led to an increase of the Bank’s capital from QAR 700m to QAR 1.120bn, representing a 60% increase from the previous nominal paid-up share capital of the bank.

    In addition, Eversheds Sutherland advised the Bank on its official brand and name change to Lesha Bank L.L.C (Public). The Bank’s new brand identity is bolstered by a new business model that has already yielded outstanding financial results. It also comes as a natural progression at a time of important transition for the Bank, with a new strategic direction aimed at achieving further growth, both locally and internationally.

     

    Samer Sarkis, Partner
    Cristina Craciun, Associate
    Karim Kobaissy, Associate

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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