Industries Qatar to raise foreign non-Qatari ownership limit to 49%
Industries Qatar IQCD 4.58% 106.99 4.69
Mubasher: Industries Qatar on Tuesday announced that the company will increase non-Qatari investors' ownership in the company to 49% from its current 25%.
The decision comes as a response to the call issued by Rashid Al Mansoori, CEO of the Qatar Stock Exchange (QSE), to all the QSE-listed firms to increase non-Qatari share ownership to 49%, according to the company’s statement to the QSE.
Raising foreign ownership in Qatari companies will enhance foreign investment in the Qatari market and develop its mechanisms to become a regional financial centre and capital market that attracts local and regional issuers and investors.
Industries Qatar last said its profits jumped 12.2% to QAR 3.3 billion in 2017 from QAR 2.9 billion in 2016.
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