13 May 2013
(MENAFN) Qatar bourse’s acting chairman, Hussein Ali al-Abdullah, announced that the listing of the USD12 billion Doha Global Investment Co on the stock market has been deferred, reported Reuters.
Al-Abdullah, who is also the acting chairman of Qatar Holding, the country’s sovereign fund, attributed the postponement of the initial public offering (IPO) to the lack of some needed approvals from the concerned authorities.
In February, Qatar said that it will establish the investment firm with USD3 billion worth of assets from Qatar Holding, while another USD3 billion will be raised in an IPO on the Qatar Exchange.
It is worth noting that the IPO was slated to take place during the current month and was to be open only to citizens, firms and institutions in Qatar, while foreign investors will be allowed to acquire the shares after the company is listed on the market.
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