Qatar Holding becomes sole owner of Qatar Exchange

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar Holding, the investment arm of the country's sovereign wealth fund Qatar Investment Authority (QIA), has bought NYSE Euronext's 12 percent stake in the Qatar Exchange, the Doha-based bourse said in a statement on Tuesday.

The deal, for which a price was not revealed, makes Qatar Holding the sole owner of Qatar Exchange, which operates the country's securities market.

QIA and NYSE Euronext signed a strategic partnership deal in June 2009 aiming to develop Qatar Exchange into a world-class market under which NYSE Euronext bought a 20 percent stake in Qatar Exchange for $200 million and brought in a Western chief executive.

The buyout coincides with the partnership's objectives being achieved, the statement said. Late last year, NYSE Euronext reduced its stake from 20 to 12 percent and Qatar Exchange named a new, local chief executive.

"Cooperation between Qatar Exchange and NYSE Euronext will continue in different fields, including technology and expertise," the bourse said.

The Doha-based bourse is home to companies such as Qatar National Bank, the second largest lender in the Gulf by market value and petrochemicals firm Industries Qatar .

Trading volume at the exchange fell to 70.7 billion rials ($19.4 billion) last year from 83.4 billion rials in 2011.

International index compiler MSCI has decided to upgrade the UAE and Qatar to emerging market status next June, which should attract fresh foreign money.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew