Mubasher: Qatar Central Securities Depository (QCSD) announced that it has approved increasing non-Qatari ownership in Widam Food Company to 49%.

This decision would boost foreigners’ stake to 8.82 million shares, according to QCSD recent statement.

This move comes in accordance with the provisions of Law No. 9 of 2014.

Early in March, Rashid Al Mansoori, CEO of the Qatar Stock Exchange (QSE), has urged all the QSE-listed firms to increase non-Qatari share ownership to 49% in a bid to enhance foreign investment in the Qatari market.

Widam’s capital amounts to QAR 180 million divided into 18 million shares.

For the first half of 2018, Widam’s profits rose 12% to QAR 60.61 million, compared to QAR 54.14 million in H1-17.

By the end of Thursday’s session, Widam’s stock declined 0.28% at QAR 71.