QFB CONFIRMS INTENT TO FLOAT IPO
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.