Qatar- Nakilat raises foreign ownership limit to 49pc

9/7/2015 11:42:28 PM

(MENAFN- The Peninsula)Minister of Energy and Industry and Chairman of Nakilat H E Dr Mohammed b in Saleh Al Sada with directors and officials during the Extraordinary General Meeting yesterday.

DOHA: Nakilat yesterday announced its decision to increase its foreign ownership limit to 49 percent from the existing 25 percent.

An Extraordinary General Meeting (EGM) of the Qatari marine transport company met yesterday agreed to increase its non-Qatari ownership limit among a number of amendments to the company’s Articles of Association.

According to the decision Qatari Governmental Institutions Qatari non-for-profit organizations Qatari Governmental Pension and Investments Funds can own a percentage of share capital up to five percent of the total shares of the Company.

Nakilat is a Qatari marine transport company providing essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world comprising 67 LNG vessels. Nakilat also manages and operates four large LPG carriers and four LNG carriers. Via two strategic joint ventures N-KOM and NDSQ Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.

The trading of Nakilat shares were suspended on Qatar Exchange (QE) yesterday due to the EGM.

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