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Tue 24 Feb 2009 05:44 PM

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Qatar Oman JV delays Muscat listing, targets buys

Qatar Oman Investment Co postpones secondary listing to eye troubled firms in GCCs.

Qatar Oman Investment Co has postponed plans for a secondary listing in Muscat and is looking to buy stakes in troubled firms across the Gulf Arab region and beyond, it said on Tuesday.The joint venture between Qatar's sovereign wealth fund the Qatar Investment Authority and the Omani government also said it was aiming to invest in real estate firms and future initial public offerings (IPOs), it said in a statement on the Doha bourse website.

"The plan concentrated on buying troubled companies as a strategic partners or as a whole," Qatar Oman said.

The firm, which raised 180 million riyals ($49.48 million) in an IPO last July, had planned to list in Muscat during 2008 after it listed on the Doha Securities Market in December 2007. (Reuters)

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