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Qatar postpones planned float of USD 12 billion investment firm - ASHARQ AL-AWSAT English Archive
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Traders at the Qatar Exchange. (Reuters)

Traders at the Qatar Exchange. (Reuters)

Dubai, Reuters—A planned floatation of Doha Global Investment Co, a USD 12 billion (GBP 7.8 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 USD 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.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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