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    QNB purchases new Housing Bank shares

    January 26, 2021
    banking

    Amman, Jan. 25 (Petra) -- Qatar National Bank Group (QNB) announced the acquisition of an additional share of 12,883,373 common stocks in the Housing Bank for Trade and Finance (HBTF) that belonged to the Oman Investment Authority and four Omani funds for an amount equivalent to JD59.2 million.

    With this acquisition, the share of QNB's share in HBTF's capital increased from 34.48 percent to 38.57 percent, to reach about 122 million shares, out of the HBTF's total capital of 315 million shares.

    The deal was struck based on the book value of the Housing Bank's share price, which reflects the real value of the share price and includes, when calculated, assets, retained earnings and cash dividends, and exceeds the market value of the share price, amounting to JD3.05.

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