07 Apr 2013
(MENAFN) Qatar Exchange’s board chairman, Hussain Ali Al Abdulla, announced that the USD12.36 billion Doha Global Investment Co plans to go public next month, reported Arabian Business.
Abdulla added that 50 percent of the investment company’s capital will be in the form of paid-up capital.
He added that the potential listing will be open just to citizens, firms and institutions in the tiny Gulf state.
However, foreign investors will be able to acquire the firm’s shares only after it is listed.
The initial public offering (IPO) would be one of the biggest IPOs carried out in the Middle East, and comes as Qatar plans to distribute its riches with local citizens and institutions.
Furthermore, the nominal value of the listed shares will be USD2.75, while a following listing of the shares would take place after the end of the offer period.
It is worth noting that Doha Global Investment Co is backed by USD3 billion worth of assets from the emirate’s sovereign wealth fund Qatar Holding.
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