Qatar will make about 633 million pounds ($1 billion) as it sells shares in Barclays Plc a year after it helped bailout Britain’s second-biggest bank.
Qatar Holding LLC, the Doha-based arm of the Qatar Investment Authority, plans to exercise warrants to sell more than 379 million Barclays shares, the companies said today in a statement. Barclays fell as much as 5.5 percent.
Barclays raised more than 5 billion pounds from Middle Eastern investors last year, triggering criticism from shareholders including Legal & General Group Plc who weren’t first given an opportunity to buy new stock. Barclays has surged since touching a March low, as it avoided government aid unlike Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc.
Earlier story here
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