Qatar Stock Exchange chief Rashid bin Ali al Mansoori has called for more companies to list on the bourse in a bid to further boost the economy and attract more investment to the Gulf state, it was reported.
Al Manssori said the total number of current listings did not reflect the status of the Qatari economy as influential economic entities were still not operating in the market, Gulf Times reported.
However, such listings would reflect positively on investors and Qatar’s booming economy and provide attractive investment opportunities for Qatari citizens.
Speaking to Qatar News Agency (QNA), al Mansoori said the recent decision by MSCI World Index to upgrade Qatar to emerging market status was significant and added to QSE’s progress over the years.
It would put Qatar in line with Brazil, Russia, India, China and Turkey in the list of countries attracting foreign investments that applied the MSCI and S&P indices for emerging markets.
Al Manssori said he expected nine Qatari companies would qualify for listings, pointing out that names of the companies will be announced by MSCI by May 14.
He said the QSE has been preparing over the past five years to manage large money inflows and liquidity after revamping its technological infrastructure, trading systems, electronic control systems and legal procedures.
He was looking forward to an increase in the foreign ownership limits of listed companies in line with the MSCI upgrade as it would allow companies to better their performance and retain money in the local market, he said. Source: Arabian Business