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Qatar’s Bourse Suspends Masraf Al Rayan Shares Over Disclosure

Qatar’s Bourse Suspends Masraf Al Rayan Shares Over Disclosure

Islamic lender Masraf Al Rayan did not disclose the sale price or other details of its recent sale of Seef Lusail Real Estate Development Co.

Qatar Exchange has suspended trading in the shares of Islamic bank Masraf Al Rayan until the lender discloses more information about the sale of its stake in a real estate company, the bourse said on Tuesday.

Masraf Al Rayan, whose shares dominate local trading turnover, said on Sunday it had agreed to sell its 50 per cent stake in Seef Lusail Real Estate Development Co to the real estate arm of the Gulf state’s sovereign wealth fund.

The lender did not disclose the sale price or other details. The bourse did not say what particular information it wanted the bank to provide.

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