Posted on October 15, 2015

Qatar Stock Exchange-listed Gulf Warehousing Company's (GWC) rights share subscription, at the rate of one for four held shares, opens October 18 following Qatar Financial Markets Authority's (QFMA) approval. In a market notice, the Qatari bourse said, "Following QFMA approval, the subscription period for Gulf Warehousing Company's rights share issue will start on October 18 and remain open up to October 29, 2015." Earlier today, Qatar Central Securities Depository Company (QCSD) announced the completed GWC's rights issue registration. 

"These rights will be available in the shareholders’ accounts in QCSD shareholders book as on October 12, 2015 in accordance with the GWC's Extraordinary General Assembly Meeting resolution," QCSD said today. The Rights Issue is 25% of the shares listed on QSE as on October 12, the central depository said. In March this year, QSE announced it would set up a framework that will enable investors to buy and sell subscription rights as a new financial instrument on the market, as per the norms of selling subscription rights issued by the QFMA and QSE trading rules.