Qatari Diar Transfers Al Khaliji Stake To Qatar Investment Authority

Diar, which had been Al Khaliji’s largest shareholders, moved 61.9 million shares in Qatar’s sixth-largest bank to QIA.

Qatari Diar has transferred its shares in Al Khaliji Commercial Bank to Qatar Investment Authority (QIA), the property arm of Qatar’s sovereign wealth fund said on Wednesday.

Diar, which had been Al Khaliji’s largest shareholders, moved 61.9 million shares in Qatar’s sixth-largest bank to QIA on Tuesday, without providing further details.

Based on Al Khaliji’s closing price on Tuesday, the stock was worth QAR1.35 billion ($370.9 million), according to Reuters calculations.

QIA is the Gulf state’s sovereign wealth fund.