Doha Global Investment’s IPO Postponed Until Authority Approvals
Doha Global Investment Co., the investment company partially-backed by Qatar Holding LLC, has postponed their initial public offering on the Qatar Exchange to a new date. The investment company plans to manage $12 billion in assets, in which $3 billion of assets will be transferred from Qatar Holding into the new entity. The new vehicle will invest in assets such as equities, real estate and direct investment in companies. The government of Qatar is attempting to use Qatar Holding’s investment platform and create a similar entity, so the Qatari citizens can partake in international investments under the government umbrella.
Hussein Ali al-Abdullah, acting chairman of both Qatar Holding and the bourse, said in a statement that the IPO has been postponed “until all requirements and approvals from the concerned authorities are obtained.”
Only citizens, companies and institutions in Qatar can invest in the IPO. Credit Suisse is the advisor on the IPO for Doha Global Investment.
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