Industries Qatar shares rise to pre-Lehman level
- Qatar: Sunday, January 06 - 2013 at 15:11
The Qatar Exchange's QE 20 Index advanced 0.80% to reach 8,636.44 points Sunday amid a general bullish sentiment at regional and global exchanges. Market heavyweight Industries Qatar gained 2.80% to reach QR165.90, representing the highest level since Aug. 25 2008, weeks before U. S. investment bank Lehman Brothers filed for bankruptcy under chapter 11. Insurers performed overall weaker with Qatar Insurance ending off 1.32% at QR67.10. Qatar Telecom or Qtel added 0.48%, finishing at QR105. Last Thursday, Qtel said that the share offer of its subsidiary Asiacell was open for subscription. The offer of 25% of Asiacell's total share capital is open until 2 February 2013 to all investors, individuals and institutions with a trading account in Iraq. Asiacell will begin trading on the Iraq Stock Exchange Feb. 3 "There is no minimum number of shares that investors can subscribe to with the offer expected to be the biggest in Iraqi history", said Qtel.
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