Sunday 24 April 2011

Qatar falls on Qatar National Bank rights issue - ArabianBusiness.com

A sell-off in Qatar National Bank after the company announced a rights issue dragged Qatar's index to a three-week low.

"Rights issue capital increase is 25 percent at 100 riyals per share," said Hani Girgis, assistant chief dealer at Dlala brokerage.

QNB's share price fell as low as 136.50 riyals earlier from Thursday's close of 149.50 riyals, before retracing some of those losses. The stock is down 0.9 percent at 138.30.

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