DOHA (Reuters) - Qatari lender Barwa Bank is planning an initial public offering on the Doha stock exchange and is being advised by local investment bank QInvest in the process, Barwa’s top executive said on Monday.
“We have been working with QInvest on a listing advisory relationship for quite some time,” Chief Executive Steve Troop told Reuters by phone, declining to give specific details.
Barwa Bank is 37.3-percent owned by Barwa Real Estate Co BRES.QA while Qatar Holding, the investment arm of the Gulf state’s sovereign fund, has a 12.1 percent stake. The remaining shares are owned by several individuals and corporates, according to the lender’s 2011 results.
QInvest’s largest shareholder is Qatar Islamic Bank (QISB.QA).
Reporting by Regan Doherty, Dinesh Nair; Editing by Amran Abocar