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Qatar Fuel to raise non-Qatari ownership limit to 49%

Qatar Fuel to raise non-Qatari ownership limit to 49%
Woqod posted a 202.8% surge in profits to QAR 321 million in Q4-17
Woqod
QFLS
0.27% 14.77 0.04

Mubasher: Qatar Fuel (Woqod) on Sunday announced that it will increase the ownership limit of non-Qatari investors in the company to 49%.

The decision came after CEO of the Qatar Stock Exchange (QSE) Rashid Al Mansoori called all the QSE-listed firms to increase non-Qatari share ownership to 49%, according to a statement to the QSE.

All necessary actions in line with existing regulations and procedures will be taken to put this move into effect, the Qatar-based firm said. 

This decision is part of efforts to achieve the QSE's vision, the statement showed.

In March 2018, Woqod posted a 202.8% surge in profits to QAR 321 million for the fourth quarter of 2017 compared to QAR 106 million in the same quarter a year earlier.