Liquidity is always improved by arbitrage opportunites. The Commercial Bank of Qatar, one of the leading commercial banks in the country, has just launched its global depositary receipt program, which it has at $7.50 per GDR, with each GDR representing an interest in 0.20 ordinary shares. These will be listed on the London Stock Exchange. CBQ's ordinary shares are listed on the Doha Securities Market.
Morgan Stanley Co. International plc (Morgan Stanley) is acting as the Sole Bookrunner and Global Coordinator while Société Générale is the Lead Manager for the offering.