|14 March, 2017

Qatar exchange awaiting shareholder approval for IPO -CEO

The Qatar Stock Exchange is awaiting the approval of its shareholders to conduct an initial public offer of its own shares

An investor monitors market activity at the Qatar Exchange in Doha

An investor monitors market activity at the Qatar Exchange in Doha

REUTERS/Fadi Al-Assaad


DUBAI, March 14 (Reuters) - The Qatar Stock Exchange is awaiting the approval of its shareholders to conduct an initial public offer of its own shares, the exchange's chief executive Rashid Ali al-Mansoori told reporters on Tuesday.

He did not give a time frame for the IPO. The exchange is owned by Qatar Holding, the investment arm of the country's sovereign wealth fund Qatar Investment Authority; in 2013, Qatar Holding bought out NYSE Euronext's 12 percent stake.

Dubai Financial Market is currently the only listed Gulf stock exchange. Its shares are listed in Dubai.

"We are waiting for a shareholder decision," Mansoori said, adding that the IPO "is a strategic decision and there is no pressure".

Mansoori also said his exchange planned to list a family-owned business in the retail sector this April, but he did not name the company.

(Reporting by Hadeel Al Sayegh; Writing by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))





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