Qatar Makes $1 Billion by Selling Barclays Shares
According to Bloomberg, “Qatar made 615 million pounds ($1 billion) by selling shares in Barclays Plc a year after it helped bail out Britain’s second-biggest bank.
Qatar Holding LLC, an arm of the Doha-based Qatar Investment Authority, sold more than 379 million Barclays shares at 360 pence each, sale manager Credit Suisse AG said today in a statement. The firm acquired the shares by exercising warrants at 197.775 pence. Barclays fell as much as 5.6 percent.
Barclays raised more than 5 billion pounds from Middle Eastern investors last year, triggering criticism from shareholders including Legal & General Group Plc who weren’t first given an opportunity to buy new stock. Barclays has surged since touching a March low, as it avoided government aid unlike Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc. ”
read more: Bloomberg
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