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Interlaw’s Partner Firm in Oman Advises on IPO of The Pearl REIF

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Interlaw’s partner firm in Oman, Trowers and Hamlins, has advised on the initial public offering (IPO) of The Pearl Real Estate Investment Fund (Pearl REIF), Oman's largest Shariah-compliant real estate investment fund, with a total asset value of OMR 90,641,000 (approximately USD 235,000,000)

The firm advised Sohar International Bank S.A.O.G. and EFG-Hermes UAE Limited (acting jointly with EFG Hermes UAE LLC) as joint global coordinator and bookrunner, and Sohar as issue manager and investment manager on the initial public offering (IPO) of 208,137,400 units in The Pearl REIF to investors across Oman and the GCC, which have been listed on the Muscat Stock Exchange.

Salman Ahmed, partner and head of the international banking and finance practice at Trowers & Hamlins in Oman, commented: "We are very pleased to have supported Sohar International and EFG in this landmark deal. This transaction lays the foundations for the REIF landscape in Oman for many years to come. This deal is a great reflection of our growing presence and reputation in Oman's capital markets sector and reinforces our commitment to the Omani market." 

The Trowers team on this transaction was led by Salman and comprised Elias Moubarak, Partner, Debopam Dutta, Senior Associate, and Phoebe Lim, Associate.