Business | Markets
Mazaya Qatar plans IPO
Mazaya Qatar's decisionreflects its commitment to carrying out its plan to develop ambitious real estate projects
- Gulf News Report
- Published: 00:00 December 29, 2009
Dubai: Mazaya Qatar Real Estate Development Company (QSC) announced in Doha yesterday that an initial public offering is scheduled for January 2010.
The company received the approval for the IPO from the Qatar Financial Markets Authority.
Mazaya Qatar's decision to offer its shares for public subscription reflects its commitment to carrying out its planned strategy of developing ambitious real estate projects and entering real estate consortiums in Qatar.
Full details of the IPO will be shared at a press conference the company is planning, including the nominal value per share and the maximum and minimum subscription.
Rashid Fahad Al Naimi, chairman of Mazaya Qatar, said: "The Qatari real estate market will soon see the offering of Mazaya Qatar stocks for public subscription, in line with the plans the company has had since its inception. We are committed to carrying out the plans determined by the board of directors."
The Sharia-compliant company specialises in real estate development and investment, including residential, commercial and industrial compounds.
More from Markets
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
