The management of Qatar Exchange announced the addition of bonus shares to United Development Company (UDC) shareholders’ accounts after the increase of the Company’s capital to reach (1.608.750.000) Qatari Riyals distributed on (160.875.000) shares. Based on the aforementioned, the shareholders will be able to trade the said shares as of Sunday , February 20 2011.
In light of such increase, the QE management decided to modify the number of UDC shares included in the QE index.
An official source at Qatar Exchange stated that the number of UDC free float shares which are included in the index calculation after the capital increase will be (146.396.250) shares; the source added that the modification shall be implemented as of Sunday’s trading session dated 20/2/2011, noting that the said modification will not affect the opening index value for that day but rather change the Company’s weighting within the index formula.
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