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Qatar Navigation jumps as planned capital increase remains in limbo
- Qatar: Sunday, November 25 - 2012 at 15:06
The Doha-based QE 20 Index closed half a percentage point higher at 8,448.35 points Sunday. Shares of Qatar Navigation, known as Milaha, advanced 6.35% to reach QR67. Earlier in the day, the firm said its board of directors decided at its meeting held on Thursday, November 22, 2012, to recommend a cancellation of a previous decision by the Extraordinary General Assembly in April 2012 to increase the company's capital by 20%. The increase in capital was to have occurred during the fourth quarter of 2012. "This recommendation comes due to the availability of alternative sources of funding at lower costs," said Milaha in a statement posted on the QE's website.
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Gérard Al-Fil, Financial JournalistSunday, November 25 - 2012 at 15:06 UAE local time (GMT+4)
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