Doha – Mubasher: Ezdan Holding Group’s stock on Tuesday slid 9.94% to QAR 12.05, registering its lowest level in eight years.
By 11:16 am Qatar time, the stock acquired an 81% stake of the real estate sector’s liquidity and a 29% stake of the Qatar Stock Exchange’s (QSE) turnover.
The real estate sector fell 6.6% after Ezdan retreated.
QSE declined 1.16% or 117.41 points to reach 9,994.98 points.
On Sunday, the QSE had decided to temporarily remove Ezdan due to the extraordinary general meeting’s (EGM) decision to turn Ezdan into a private joint stock company from a public shareholding company.
The Qatari company’s profits surged 61.5% to QAR 945.97 million in the first quarter in 2017, from QAR 585.65 million in Q1-16.
Ezdan had previously reported a 9% increase in its profits to reach QAR 1.81 billion in 2016, compared to QAR 1.66 billion in 2015.
