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QOIS Announces Shares Purchase and Exchange in 2 Companies

Qatar Oman Investment Company (QOIS), a Qatari public shareholding company, announced a purchase and share swap agreement.

Under the agreement, QOIS purchased the shares of the National Real Estate Development and Investment (OSOS) in Muzn Oman, for a total value of 764 thousand Omani Riyals, increasing QOIS’s stake in the company from 18.84 percent to 37.68 percent.

QOIS then exchanged its entire share in Muzn Oman of 37.68 percent, for the Omani Ministry of Defense Pension Funds share in OSOS of 10 percent, raising the shares of QOIS in OSOS to 15 percent.

The step comes within the Board of Directors’ strategic investment plan to exit from projects with weak returns or high risks, to enhance the company’s assets, protect investors, and emphasize achieving the highest standards of transparency and fairness when disclosing.

Muzn Oman is a closed joint Omani company established in 2015, and is located in the Omani capital, Muscat. It includes a mall and a 3-star hotel.

OSOS is a closed joint Omani company established in 2008 by a group of major shareholders and businessmen in the Sultanate of Oman and institutions from the GCC. It works in property development in its various activities. The company provides pioneering solutions in the field of property marketing, management, consultancy and valuation.

Source: Qatar News Agency

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