A royal IPO

19 February 2013 By Una Galani Follow @ugalani

Creating and listing a firm to invest overseas underscores Qatar’s asset-management ambitions and opens a new channel for wealth distribution. It will also boost liquidity on the Doha exchange. But going public increases disclosure – a major change for a secretive government.

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Qatar will create a $12 billion investment firm and list it on the local stock exchange, the country’s sovereign fund said on Feb.19. The fund will be called Doha Global Investment.
Qatar Holding - the investment arm of the Qatari sovereign fund - said the new firm will invest in assets in any sector around the world.
“You name it - shares, bonds, real estate, private equity. We will look at every sector in every country around the world,” Hussain al-Abdullah, Qatar Holding’s vice chairman, said at a news conference.
The sovereign fund generated a rate of return of 17 percent last year, Abdullah added.
Qatar Holding will transfer $3 billion-worth of assets into the new firm, with a similar amount raised in an initial public offering on the Qatar Exchange. A further $6 billion will be raised at a later date.
Qatar Holding will own 50 percent of the fund, with the rest floated on the stock exchange. The firm will have a nine-member board, including a chairman.

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