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Al Khaliji lifts foreign ownership cap

February 26, 2014



The ownership motion was agreed at the bank's annual general meeting on Sunday, the statement said.



Qatar'sAl Khaliji Commercial Bank said on Monday its shareholders had approved increasing its foreign ownership limit to 49 per cent, while its chief executive was quoted as saying it planned no public bond issues in 2014.







The ownership motion was agreed at the bank's annual general meeting on Sunday, the statement said. The previous limit was 25 per cent; only 16.18 per cent of the firm is currently held by non-Qatari investors, according to bourse data.







"This change allows the bank to open up to international investors and increase the liquidity of the bank's shares," Al Khaliji said in a statement.







Compiled from Reuters




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Source: Khaleej Times (United Arab Emirates)


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