Qatar Insurance Co. shareholders approve capital increase
- Qatar: Monday, February 18 - 2013 at 15:33
The QE 20 Index gained 0.15% Monday, closing at 8,794.67 points. Market heavyweights Industries Qatar and Qatar Telecom advanced 0.18% and 0.86%, respectively. Qatar Insurance Co. or QIC closed unchanged at QR71.60. Earlier in the day, QIC said on Feb. 17, the extraordinary general assembly "approved the increase of the company's capital from QR891.9m to stand at QR1bn by distributing bonus shares (one share for each five shares). The EGM also gave green light to increase the capital by a further 20% through bonus shares. "New shares for the current shareholders registered at Qatar Exchange on Feb. 14 at the price QR45 and authorizing the board of directors to complete the procedures according to the commercial companies law and the company's article of association and the obtaining the approvals from the concerned authorities," said QIC in a statement to the Qatara Exchange.
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