Doha Bank, Milaha to replace UDC and Vodafone Qatar at Qatar Exchange

Doha Bank, Milaha to replace UDC and Vodafone Qatar at Qatar Exchange

One of the largest commercial banks in Qatar, Doha Bank, and one of the leading forces in Qatar’s maritime & logistics sector, Milaha (Qatar Navigation), will replace United Development Company and Vodafone Qatar at the Qatar Stock Exchange’s 20-stock Qatar Index, effective from April 2022.

The other companies in the Index namely, Industries Qatar, Qatar National Bank, Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank, Woqod, QIIB, Nakilat, Qatar Electricity & Water, Mesaieed Petrochemical Holding, Ooredoo, Barwa, Qamco, Gulf International Services, Ezdan, Baladna, Investment Holding Group, and Salam International Investment, will remain in the main barometer.

All listed companies are ranked by giving free-float market capitalization with a 50 percent weight and average daily value traded contributing to the 50 percent weight. Companies with a velocity less than 5 percent are excluded from the review, as are entities whereby a single shareholder can only own less than 1 percent of outstanding shares.

The cap applies 15 percent of the weight of an individual component to the index, distributing the excess weight proportionally between the remaining index components. In such cases, the determination of the shares is done only on the rebalancing dates.

Milaha will join the Al Rayan Islamic Index, while Al Khaleej Takaful