Mubasher: Barwa Real Estate on Wednesday announced plans to sell treasury stocks owned by Qatar Real Estate Investment Company (Al Aqaria) in Barwa.
The number of these treasury stocks is 50,100 stocks and represents 100% of Barwa’s treasury stocks, the real estate firm said in a filing to the Qatar Stock Exchange (QSE).
Barwa said it had informed the QSE of the purpose of this sale since 5 November. The board announced its agreement to the sale two days later.
These stocks represent 0.01% of Barwa’s 389.1 million stocks, according to the statement.
Selling the stocks is scheduled to begin from 6 November to 31 December, Barwa said, adding that The Group company will manage this sale.
Barwa last reported a profit increase of 4.5% to reach QAR 310.4 million in the third quarter of 2017, compared to QAR 297 million in Q3-16.
Barwa’s stock ended Wednesday’s session declining 2.31% to QAR 28.33 with a traded value of QAR 2.3 million through the exchange of 81,500 stocks.