Qatar postpones $12bn flotation

The planned floatation of Doha Global Investment, a $12bn (£7.8bn) Qatari investment firm backed by assets from the Gulf state’s sovereign wealth fund, has been postponed pending necessary approvals, a senior bourse official said yesterday. Qatar unveiled plans to create the investment company in February and said its sovereign fund arm, Qatar Holding, will transfer $3bn worth of assets into the new firm, with a similar amount raised in an initial public offering on the Qatar Exchange. The IPO has been postponed “until all requirements and approvals from the concerned authorities are obtained,” Hussein Ali Al Abdullah, acting chairman of both Qatar Holding and the bourse, said in a statement.