Tribune News Network
Doha
Gulf International Services (GIS), one of the region’s leading oil and gas service providers, has announced plans to list its wholly-owned subsidiary, Al Koot Insurance and Reinsurance Company, on the Qatar Stock Exchange as a Qatari Public Shareholding Company.
The decision, taken during the board of directors meeting held on October 9, 2024, is subject to fulfilling all necessary conditions and requirements as stipulated by the Qatar Central Bank Law, along with securing the required regulatory approvals. This move marks a significant step in GIS’s strategic plans to enhance its market position and unlock greater value for shareholders. GIS stated that further details, including outcomes of related due diligence studies, will be disclosed in compliance with applicable regulations and rules governing the listing process.
This development is anticipated to strengthen Al Koot’s position in Qatar’s growing insurance and reinsurancemarket.
