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Qatar is increasing the foreign ownership limit in a number of exchange traded energy sector companies in which the state, led by Qatar Petroleum (QP), is the main shareholder. But while the move technically opens up stakes worth $8bn to foreign investors, current foreign ownership is well below the permissible level.
The move is in line with efforts to expand the Qatar Stock Exchange’s (QSE) investor base and boost liquidity. QSE has taken a substantial hit from the political upheaval since Saudi Arabia, UAE and Bahrain broke off ties with Doha in June 2017. It lost more than 20% of its value between then and end-2017. It has recovered slightly to around 9,000 points, which is still down some 10% from prior to the embargo. (CONTINUED - 649 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Qatar Import Cover* Stabilizes At 15 Days As Foreign Reserves** Edge Up In Late 2017 ($Bn)|
|table||Qatar Raising Foreign And Shareholder Ownership Limits In Qp-Led Firms|