Mubasher: Gulf International Services (GIS) on Sunday announced that it will increase the ownership limit of non-Qatari investors in the company to 49% from the current 25%.
GIS, a wholly-owned subsidiary of Qatar Petroleum, will increase the ownership limit for a single shareholder from 1% to 2%, according to a filing to the Qatar Stock Exchange (QSE).
The decision came after CEO of the QSE Rashid Al Mansoori called all the QSE-listed firms to increase non-Qatari share ownership to 49%.
All necessary actions in line with existing regulations and procedures will be taken to put this move into effect, the insurance, aviation, catering, and drilling services provider said.
This decision is in line with the efforts exerted at all levels to achieve the QSE's vision, the statement said.
