Sheikh Mohammed bin Khalifa al-Thani, a member of the Qatari royal family, has purchased a 5.01 per cent stake in Kaupthing, Iceland’s biggest bank, making him the bank’s third largest shareholder.
The $286m investment will be made through Q Iceland Holding, a company owned by Sheikh Mohammed.
He said that he had been following Kaupthing for some time and felt this was a good time to make a long-term investment in the bank.
Kaupthing’s shares have been falling in value since October 2007.
“We are continually focused on attracting new investors to the bank and we are happy to see that our strategy of increasing the diversity of our shareholder base has proven fruitful,” says Sigurdur Einarsson, chairman of the bank.
You might also like...
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
Algeria signs oil deal with Swedish company
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
