New investment company Doha Global Investment Company's planned public offering in May is expected to spur selling on Qatar's bourse as investors increase their liquidity for the IPO.
Traders say that local investors are selling shares to raise money so they can invest in Doha Global, and the trend is likely to continue in the succeeding weeks. Foreign and long-term investors can benefit from the selling as this would open up buying opportunities, the traders added.
Doha Global will have a total capital of $12.36 billion, 50% in the form of paid-up capital. Assets valued at $3 billion will also be transferred by Qatar Holding to the company.
The IPO will be open to Qatar citizens, companies and institutions only. It will be open to foreign investors only after it is listed.
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