DOHA: Ezdan Holding Group yesterday revealed that it has bought more than 20 percent of Islamic Holding Group (IHG) shares through Qatar Exchange.
Dr Khalid bin Thani bin Abdullah Al Thani, chairman, Ezdan Holding Group said the deal was part of the Group’s strategic plans to diversify its investment portfolio.
After the General Assembly’s decision to dissociate from the real estate sector during
five years, Ezdan Holding Group is working to direct its
investments and financial resources to other sectors
in the country in order to support the Qatari market, particularly in the financial and industry sectors.
“Acquiring such outstanding ratio of shares came as a result of a thorough study of the financial situations of many companies listed on the Qatari bourse. Investment in the Islamic Holding Group was due to the fact that it is an emerging corporate, which is expected to record significant growth with the strong support of Ezdan during the fore coming period,” Sheikh Khalid said.
Sheikh Khalid said Ezdan Holding Group will spare no effort to contribute in achieving the Qatar National Vision of Development 2030.
Commenting on the purchase deal, Ezdan Holding Group CEO Ali al Obaidli said:” Ezdan Holding Group benefited from its turnovers as shown its financial statements, which
demonstrated strength and durability of the Group’s profit, noting that the Group aims at diversifying its investment portfolio through procuring a diversified portfolio of local shares that would contribute to stimulate the country’s economy, reflecting the volume of the Group’s profits.”
Obaidli reiterated that Ezdan Holding Group is working at steady, clear and transparent pace in the dissociation from the real estate sector with the aim to achieve its vision and mission, noting that the Group possesses significant investment potentials that can have a vital role in the nation building and the renaissance of the state in line with the National development strategy 2030.
It is worth mentioning that the number of shares endowed for charity activities in
Ezdan Holding Group amounted to 605 million shares worth QR10.29bn, representing 22.8 percent of the total shares of the Group amounted to 2.65 billion shares.
Such initiative was carried out by the Founder of Ezdan Holding Group, Sheikh Thani bin Abdullah Al Thani in 2011, emphasising its keenness to provide a sustainable source of humanitarian and charitable works not only in Qatar, but to reach out all the needy people in across the region and the world.
The Peninsula
