Qatar postpones float of $12bn investment firm

Planned flotation of Doha Global Investment Co delayed pending necessary approvals
By Reuters
Sun 12 May 2013 04:03 PM

A planned flotation of Doha Global Investment Co, a $12 billion Qatari investment firm backed by assets from the Gulf state's sovereign wealth fund, has been postponed pending necessary approvals, a senior bourse official said on Sunday.

Qatar unveiled plans to create the investment company in February and said its sovereign fund arm, Qatar Holding, will transfer $3 billion worth of assets into the new firm, with a similar amount raised in an initial public offering on the Qatar Exchange.

The IPO has been postponed "until all requirements and approvals from the concerned authorities are obtained," Hussein Ali Al Abdullah, acting chairman of both Qatar Holding and the bourse, said in a statement.

A new date for the IPO will be announced in the local news media, Abdullah said, without providing any additional details.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.