Qatar Holding to sell half a billion worth of Barclays shares

Qatar Holding to sell half a billion worth of Barclays shares

ALBAWABA – Qatar Holding LLC, a company owned by the Qatar Investment Authority (QIA), is selling half a billion dollars’ worth of its shares in Barclays Plc, Bloomberg reported on Tuesday.Qatar Holding is selling 361.7 billion shares in the British firm, worth around $644 million.In the wake of the 2008 financial crisis, Qatar Holding invested just over $5 billion and became one of its largest backers and shareholders.By the end of 2022, the company held a 5 percent stake in Barclays, according to a US regulatory filing in January, as reported by Bloomberg.An expedited book building on Monday, according to the New York-based news agency, reflects around 45 percent of Qatar Holding’s position.“The timing is slightly odd,” Adam Terelak, an analyst at Mediobanca, told Bloomberg, as Barclays prepares for a major overhaul in 2024.“It’s hardly a ringing endorsement,” Terelak said.Qatar Holding to sell half a billion worth of Barclays shares - ShutterstockNotably, Barclays’s shares have fallen by a tenth this year, underperforming many of its peers, as the firm works on boosting profits.The shares are expected to price at 141 pence, according to Bloomberg, representing a 1.4 percent discount to Monday’s close. The offering represents about 2.4 percent of Barclays’s