Shares in Union Development Company (UDC), the developer behind Qatar's man-made Pearl island project, were suspended on Wednesday over its plans to bring in a strategic investor, the country's financial markets authority said.
UDC said earlier this month that it had been approached to enter into "serious negotiation" to add a new Qatari shareholder through issuance of new shares.
The Qatar Financial Markets Authority ordered the trading halt to give investors "equal and sufficient" access to information related to UDC's Dec. 5 announcement. The firm said it would put the matter before an extraordinary general meeting.
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