A huge initial public offering will be presented in May for a multi-billion dollar investment company which was begun by Qatar at the beginning of 2013. Shares will be on offer to individuals, local companies and institutions.
At the beginning of the century Qatar launched three giant primary issues for its own citizens, businesses and local institutions. In early 2002 they created Woqod; Industries Qatar in May 2003; and in January 2005 Qatar launched Nakilat. The launches led to a stampede of investors to get a piece of the action.
The above three IPOs were floated before the Qatari bourse was opened up to the foreign market, and event that did not take place until April 3, 2005. (Back then the bourse was known as the Doha Securities Market.)
The new firm, whose IPO is about to be floated will value each share at QR10. The Qatar News Agency announced that half of that amount will be paid up, quoting Dr. Hussein Ali Al Abdullah, chairman of the bourse, the Qatar Exchange, as the source of their information.
The company, known as the Doha Global Investment Company will begin with a total capital of QR 45 billion ($12.36 billion), half of which will be in the form of paid up capital. After the shares are listed on the Qatar Exchange non-Qatari investors will be able to trade in the secondary shares.