By Joanne Bladd
Company will offer 118.8 million shares in bid to attract international investors
Qatar conglomerate Aamal Co will list shares in the form of
global depositary receipts on the London Stock Exchange in June, the company said
in an emailed statement Wednesday.
Shareholder Sheikh Faisal Bin Qassim Al Thani will offer up to
118.8 million shares, or 24 percent of the company's share capital, in the form
Amal has been listed on the Qatar exchange since 2007, but
its freefloat is only around 0.3 percent.
The offer is “expected to further enhance the liquidity and
profile of the company’s shares among international institutional investors
seeking high quality exposure to Qatar’s rapid economic growth,” Aamal said in
The company’s existing listing on the Qatar Exchange will be
Amaal posted a full-year net profit of QR561.9 ($154.4m), a
rise of 125.1 percent on the year earlier period. As one of the largest
companies listed on the Qatar bourse, the firm has interests in industrial
manufacturing, trading and real estate.