MUSCAT -- The Muscat Securities Market (MSM) will sign an agreement with Doha Securities Market (DSM) today to facilitate cross-listing of shares of Omani Qatari Investment Holding Company (OQIHC). The shares of the holding company are already listed on Doha bourse, Ahmed Saleh al Marhoon, Director-General of MSM told the Observer. "For listing a share in more than one bourse, we need to have an agreement. It will help local investors of the country," he added.
OQIHC was established with a paid-up capital of 300 million Qatari rial ($82.4 million). The company, which is 40 per cent each owned by governments of both countries, is targeting to invest in various sectors like financial, educational, healthcare, tourism and real estate in both countries. In Oman, a major chunk of investment is devoted to real estate and infrastructure development, while in Qatar, it is targeted for the financial services sector.
Al Marhoon said that the MSM, in the recent past, has signed cross-listing pacts with the Abu Dhabi Securities Exchange, Bahrain Stock Exchange and Kuwait Stock Exchange. The agreement with Abu Dhabi bourse was for cross-listing shares of Oman and Emirates Holding Company, while United Finance is listed on both Bahrain and Muscat bourses.
By Business Reporter
© Oman Daily Observer 2008
