LONDON (Alliance News) - Qatar Investment Fund PLC on Wednesday said it has tabled a proposed tender offer to buy back around 12% of its issued share capital.
The fund, which invests in companies in Qatar and other Gulf states, said it will buy back up to 12% of its shares, or a maximum of 14.0 million. The tender price will be determined by October 25, it said.
It said the tender offer has been launched as the shares in the company are often "tightly held", squeezing liquidity. The tender will allow shareholders who want to realise part of their holdings to do so.
The plan will be put to a shareholder vote an extraordinary general meeting on November 17.
Shares in Qatar Investment Fund were untraded on Wednesday, having last traded at USD1.08.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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