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Abdulmohsen Al Hokair Group and Al Hammadi Company for Development and Investment
The listings of Abdulmohsen Al Hokair Group, a tourism and development company, and Al Hammadi Company for Development & Investment, in June and July 2014, represented the culmination of many years of development anchored on Shariah principles. “These two transactions,” says Jadwa Investment, “represented the culmination of partnerships that were rooted from the outset in best practice in Islamic finance.”
What does that mean, in practice? “In line with Islamic principles, Jadwa supported the owning families and [helped] the shareholder achieve their objectives by sharing responsibility and delivering honest counsel on advice, delivering on promises through partnership,” says the bank.
That’s the point: a shared allocation of both responsibility and risk from the outset.
The result was a successful pair of IPOs.
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