Travers Smith Head of Corporate Spencer Summerfield, Tax Partner Simon Yates and Senior Corporate Associate Daniel Simons have advised The Bank of London and The Middle East, the largest Islamic bank in Europe, in connection with the implementation of a corporate reorganisation and its introduction and admission to trading on NASDAQ Dubai.

As part of the corporate reorgansiation, existing shareholders in The Bank of London and The Middle East exchanged their shares for an equivalent proportion of shares in BLME Holdings, with BLME Holdings becoming the new holding company of the group. Shortly following the corporate reorganisation taking effect, BLME Holdings completed a Court approved reduction of capital to facilitate the future payment of dividends.

BLME Holdings was admitted to trading on NASDAQ Dubai on 8 October 2013 becoming the first company to join NASDAQ Dubai in over four years and becoming the first UK company to have a primary listing on the bourse. The BLME Holdings shares were priced at US$2.61 per share, giving the company an implied market capitalisation of over US$510 million.