Qatar exchange awaiting shareholder approval for IPO

Plan to list family owned business in the retail sector
"We are waiting for a shareholder decision," Mansoori said.
By Reuters
Tue 14 Mar 2017 12:20 PM

The Qatar Stock Exchange is awaiting the approval of its shareholders to conduct an initial public offer of its own shares, the exchange's chief executive Rashid Ali al-Mansoori told reporters on Tuesday.

He did not give a time frame for the IPO. The exchange is owned by Qatar Holding, the investment arm of the country's sovereign wealth fund Qatar Investment Authority; in 2013, Qatar Holding bought out NYSE Euronext's 12 percent stake.

Dubai Financial Market is currently the only listed Gulf stock exchange. Its shares are listed in Dubai.

"We are waiting for a shareholder decision," Mansoori said, adding that the IPO "is a strategic decision and there is no pressure".

Mansoori also said his exchange planned to list a family-owned business in the retail sector this April, but he did not name the company.

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Last Updated: Thu 13 Apr 2017 06:57 PM GST

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