Qatar's Aamal, a trading, property and industrial company, postponed plans to list on the London Stock Exchange. The group had planned to list up to 24pc of its share capital in the form of global depositary receipts (GDRs).
"Due to the continuing unfavorable new issues market environment, Aamal Company has postponed its intention to proceed with the planned offering of its shares in the form of GDRs," the group said yesterday. "Aamal Company expects to review the timing for its planned GDR offering in due course, subject to market conditions," it added.
The offering, which consisted of existing shares held by Faisal Bin Qassim al Thani, would have raised a maximum of around $400m to $500m.
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