Press Releases

10 July 2006

Salam International Shares Debut on Dubai Financial Market

Today morning, on Tuesday July 11, 2006, the successful debut of Salam International shares’, the first Qatari company to be listed on the Dubai Financial Market (DFM) took place. The company’s shares started trading with trading symbol (SALAM) upon conclusion of the bells ringing ceremony attended by Essa Kazim, Director General of DFM, members of Salam International’s Board of Directors – Dr. Hamad Al-Kawari, Mr. Mohammed Khaled Al Mana, Mr. Nasser Haidar, and Executive Directors at the company, Dr. Adnan Steitieh and Mr. Hekmat Al Younis.

During the ceremony, Mr. Essa Kazim, Director General of DFM, welcomed SALAM International to the DFM as the 38th public joint stock company listing and wished them a fruitful presence here. He said this new listing is another vote of confidence from a well established and profitable growth stock in the opportunities that DFM brings to the table. “We welcome SALAM International to our bourse, and look forward to a prosperous future together” he said.

On behalf of Salam International’s Board of Directors, Dr. Hamad Al Kawari, Board Member at SALAM International, said: “It is an honor for Salam International to be listed on DFM and the second listed on regional markets. The objective from listing SALAM's shares on DFM is based on strategic and long term plans and not on short term basis. This decision came in compliance with the company’s strategy that aims to expand, grow and achieve sustainable benefits for Salam shareholders.”

In addition, the decision complies with the nature of the company, as a regional company with various activities and specialties. Salam International controls 25 subsidiaries specialized in information technology and communications, construction and development, energy and industry, luxury and consumer products and investment and real estate development in addition to other joint ventures with local, regional and international companies.

The listing also comes in compliance with the heritage of Salam International in innovation, pioneering and founding creative basis and standards in the business atmosphere inside Qatar.

This listing is expected to add many benefits to shareholders, as listing in foreign markets will allow the company to be open up to new markets, which qualifies the company to seize additional growth opportunities and provide financing resources for the company’s ambitious strategies.

Furthermore, the listing will improve the company’s role and its regional activities. As a result, this will improve the turnover of the company’s shares and will provide opportunities for fair market price valuation, which is an additional advantage for the shareholders. It is worth mentioning that Salam International management concentrates on improving the performance of the company and achieving the greatest potential return possible by considering the solid and promising fundamentals for Salam International.

In order to increase realized revenues and profits, this step is expected to achieve a positive and promising results for the shareholders and the company.

Salam International will be the first Qatari Public Shareholding company to be listed on DFM and the second listed on regional markets. Salam International will be Qatar’s private sector representative in this matter.

In concluding his speech, Dr. Al Kawari took the opportunity to express deep gratitude to the rules of both Qatar and the United Arab Emirates for their continuous support and vision in the development of our beloved countries.

Also, he extended his thanks to the Emirates Securities & Commodities Authority, the management of both Doha Securities Market and Dubai Financial Market for their continuous efforts in making this landmark step a success.