Nakilat’s LNG shipping fleet is the largest in the world with some 63 vessels
Foreign shareholders can now hold up to 49% in Nakilat listed on the Qatar Stock Exchange.
Qatar Central Securities Depository (QCSD) has amended the foreign ownership limit (FOL) in the shares of Nakilat up to 49% of capital, as at the end of yesterday’s trading session, a spokesman of the QSE said, confirming the development.
The QCSD explained that this amendment comes in implementation of Law No (9), which allows foreign investors to own a percentage not more than 49% of each company listed on the domestic bourse.
The law also provides for the treatment of the Gulf Cooperation Council citizens as Qataris in terms of owning the shares of the listed companies.
This move comes after Nakilat received an approval from its general assembly to amend the articles of association in line with the law provisions, and following the approval of the Ministry of Economy and Commerce on the amendment.
Many listed companies, it is learnt, are in the process of enhancing the FOL in view of the upgrade of the QSE by MSCI and Standard & Poor’s-Dow Jones.
So far, Milaha, Ezdan Real Estate, Commercial Bank, Aamal Company, Qatar General Insurance and Reinsurance and Doha Bank have received approval from the QCSD to enhance the FOL up to 49%.
QCSD is a service providing company, licensed by the Qatar Financial Market Authority, engaged in providing safekeeping, clearing, settlement and depository services of securities and other financial instruments listed on the QSE.
QCSD, which started operations on January 2, 2014, provides its services to individuals and institutional investors.
S&P reaffirms rating at ‘AA-’ with a stable outlook
Qatar Gas Transport Company (Nakilat) yesterday said the rating agency Standard & Poor’s (S&P) reaffirmed its senior debt credit rating at ‘AA- ‘with a stable outlook.
Nakilat is a Qatari LNG transport company providing an essential transportation link in the country’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising some 63 LNG vessels.
Nakilat also manages and operates four large LPG carriers via two strategic joint ventures- N-KOM and NDSQ.
Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City. The company also offers a full range of marine support services to vessels operating in Qatari waters.
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