QFB CON­FIRMS IN­TENT TO FLOAT IPO

Qatar Today - - BUSINESS -

Qatar First Bank plans to list its shares on the Qatar Stock Ex­change as early as the first quar­ter of 2016, the bank's chair­man has said.

The sharia-com­pli­ant fi­nan­cial in­sti­tu­tion, which was meant to go pub­lic this year, is pre­par­ing to take the big step in the next few weeks and “Things are on the right track,” ac­cord­ing to Chair­man Ab­dulla Al Marri. This would be only the se­cond new list­ing in Qatar since 2010, al­though QFB says it would only put its shares onto the bourse to trade and would raise no new money from the event. Tra­di­tion­ally fo­cused on wealth and as­set man­age­ment and pri­vate equity, tar­get­ing in­vest­ments in en­ergy, real es­tate and fi­nan­cial ser­vices across the Middle East and Africa, QFB also launched a pri­vate bank­ing ser­vice last month.

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