ID :
164509
Sun, 02/27/2011 - 20:17
Auther :
Shortlink :
https://oananews.org//node/164509
The shortlink copeid
QInvest to Offer Shares for Subscription
Doha, February 27 (QNA) - Abdul Latif Al Meer, QInvest's managing director and board of directors member, has said that QInvest is going to offer its shares for subscription either at the end of 2011 or at the beginning of 2012.
QInvest, a Sharia compliant and one of the biggest Qatari investment banks, has authorized capital of $1 billion and paid up capital of US$750 million.
Al Meer said that the bank is considering enlisting in the Qatar Exchange (QE) but that won't be before offering its shares for subscription, pointing out that enlisting of its shares in QE will be subjected to a number of factors, mainly the stability of the market and achieving the bank's growth target.
He said that QInvest succeeded in increasing its paid-up capital by 50% to $750 million in 2010, adding that this achievement shows that the bank has largely withered the storm of the global economic crisis.
QInvest seeks investment opportunities in Qatar as well as opportunistic transactions overseas. It currently controls 40% of an UAE-based company Intercat which specializes in hospitality. The bank also acquires a stake in FIIT JEE, an Indian most reputable test preparation company for engineering and medical entrance examinations. It is expected that Qinvest will pursue opportunities in Saudi Arabia after it obtained a permit to operate an Islamic investment bank in the kingdom. (QNA)
QInvest, a Sharia compliant and one of the biggest Qatari investment banks, has authorized capital of $1 billion and paid up capital of US$750 million.
Al Meer said that the bank is considering enlisting in the Qatar Exchange (QE) but that won't be before offering its shares for subscription, pointing out that enlisting of its shares in QE will be subjected to a number of factors, mainly the stability of the market and achieving the bank's growth target.
He said that QInvest succeeded in increasing its paid-up capital by 50% to $750 million in 2010, adding that this achievement shows that the bank has largely withered the storm of the global economic crisis.
QInvest seeks investment opportunities in Qatar as well as opportunistic transactions overseas. It currently controls 40% of an UAE-based company Intercat which specializes in hospitality. The bank also acquires a stake in FIIT JEE, an Indian most reputable test preparation company for engineering and medical entrance examinations. It is expected that Qinvest will pursue opportunities in Saudi Arabia after it obtained a permit to operate an Islamic investment bank in the kingdom. (QNA)
