DUBAI: Qatar’s stock exchange will treat investors from Gulf Cooperation Council (GCC) countries as local citizens from today when calculating whether foreign ownership in listed companies has reached permissible limits, the bourse said.
The move will in effect allow foreign investors, from both the Gulf and outside the region, to hold bigger stakes in listed Qatari companies, most of which have ceilings on total foreign ownership of 25 or 49 percent.
However, the decision looks likely to have little immediate impact on investment flows since foreign ownership limits for most stocks are far from being used up.
Foreigners own just 7.3 percent of Qatar National Bank and 6.8 percent of Industries Qatar, two local companies with the heaviest weightings in global benchmarks.Reuters
