Qatar: The QE 20 Index lost 0.47% to 8,536.63 points Sunday. Doha Bank fell by almost the same degree, finishing at QR47.50. Earlier in the day, the lender said it opened a representative office in Sydney, Australia. More newsworthy was the announcement by Hussain Ali Al Abdulla, Chairman of the QE Board who said that the shares of the Doha Global Investment Company, a new wealth fund backed by the country's sovereign wealth fun, will offered to public subscription "during May" and will be listed for trading on the QE. Dr. Al Abdulla said that the company's capital will be QR45bn, 50% of that will be paid up amount (QR22.5bn), and Qatar Holding will contribute 50% of the capital. Dr. Al Abdulla stated that the IPO will be open only to Qatari companies, institutions and citizens, and the non-Qataris will be able to trade and buy in the company's shares after being listed on the bourse in Doha. [AMEInfo.com]
↧