Qatar to open stock market to foreigners

DOHA - The Gulf Arab state of Qatar plans to partially open its stock market to foreign investors in April, Economy and Trade Minister Shaikh Mohamed bin Ahmed al-Thani said yesterday.

By (Reuters)

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Published: Tue 8 Feb 2005, 9:44 AM

Last updated: Thu 2 Apr 2015, 4:24 PM

Foreign investors will be allowed to purchase up to 25 per cent of shares in companies listed on the Doha Stock Market (DSM) as of April 3, he said.

“If you want to be part of the global economy, you have to be an open economy. And what we are saying is that this is a step in that direction,” he said.

Previously only fellow Gulf Arab nationals could buy shares in certain sectors and in limited amounts.

The DSM index rose 64.5 per cent last year mainly on the back of high oil and gas prices. There are 30 companies listed on the DSM and market capitalisation is around $40 billion.

DSM officials told Reuters that companies would decide if initial public offerings of shares would be open to foreigners or only to Qatari citizens.

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