Qatar is gearing up to list state assets on its stock market, giving ordinary Qataris a fresh opportunity to invest in their country’s economic success. But it is not clear whether the move will energise the market.
Qatar Holding, the investment arm of the country’s sovereign wealth fund, said last week that a new $12bn investment firm would be created, backed by blue-chip assets from the fund.
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The new firm would receive $3bn of assets from the fund, which holds stakes in high-profile global firms such as German sports car maker Porsche and British bank Barclays. It would raise a similar amount through an initial public offer of shares on the Qatar Exchange, while a further $6bn would be raised at a later date.
“You name it — shares, bonds, real estate, private equity. We will look at every sector in every country around the world,” Hussain al-Abdullah, Qatar Holding’s vice-chairman, said of the scope of the new firm.
Its listing would be one of the biggest IPOs conducted in the Middle East. In addition, state-owned Qatar Petroleum has been considering whether to list some of its subsidiaries in Qatar, sources familiar with the matter told Reuters; the company did not respond to a request for comment.
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