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Investors unimpressed by Al Meera expansion statement
- Qatar: 21 hours, 8 minutes ago
The Qatar Exchange 20 Index closed 0.14% higher at 8,345.97 points Wednesday. Shares of Al Meera Holding and those of bank Masraf Al-Rayan closed unchanged at QR155 and QR26.15, respectively. Earlier in the day, Al Meera said in a statement to the bourse it is bond to its expansion in Oman and at home. Al Meera recently bought through its subsidiary Al Meera Consumer Goods Safeer supermarket and hypermarket stores in Oman. Bank Masraf Al-Rayan, the country's third largest bank by market value behind CBQ, aims to bid for the majority in troubled Islamic Bank of Britain or IBB, as it was announced in June this year. A person familiar with the matter told AMEinfo.com Wednesday that talks were still ongoing and might be closed "very soon" in line with Al Rayan's aggressive expansion strategy. Qatar's ruling family Al-Thani holds 12.5% in Masraf Al-Rayan.
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Gérard Al-Fil, Financial JournalistWednesday, December 12 - 2012 at 15:45 UAE local time (GMT+4)
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