Doha: New ordinary shares in Barwa Real Estate Company QSC (Barwa) have been issued to shareholders of Qatar Real Estate Investment Company QSC (Alaqaria) who accepted Barwa's offer to acquire the share capital of Alaqaria in exchange for shares in Barwa (the Offer) by April 14, 2010 and to Qatari Diar Real Estate Investment Company QSC (Qatari Diar).
The new Barwa ordinary shares have also been listed and admitted to trading on the Qatar Exchange (QE). Shareholders will be able to trade their new shares from today.
The 80,753,893 new Barwa ordinary shares have been issued to those Alaqaria shareholders who accepted the Offer by April 14, 2010. The Offer was accepted by shareholders of Alaqaria representing 85 percent of its share capital.
A further 19,892,295 new Barwa ordinary shares have been issued to Qatari Diar in order to maintain a 45 percent equity shareholding in Barwa as per the terms contained in the Offer Document.
The new number of outstanding Barwa ordinary shares post the increase is 363,146,188.
The listing and admission to trading of the new Barwa ordinary shares has been approved by the Ministry of Business and Trade and the Qatar Financial Markets Authority.
© The Peninsula 2010
