Qatari building materials-to-shopping centers conglomerate Aamal Co. (AHCS.DO) said Wednesday it will raise its freefloat to around 24% by offering global depositary receipts in London.
Selling shareholder Sheikh Faisal Bin Qassim Al Thani will offer up to 118.8 million shares, or 24% of the company's share capital, in the form of GDRs. Aamal has been listed in Qatar since 2007 but its freefloat is only around 0.3%.
The company said the offer will "further enhance the liquidity and profile of the company's shares among international institutional investors seeking high-quality exposure to Qatar's rapid economic growth."
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