An incorrect report last week that an initial public offering (IPO) would be offered this March by a new bank being established in Qatar has led the Doha Securities Market (DSM) to lodge a formal complaint against the Arabic daily that made the claim.
As a result of the report, panic and offloading was experienced by investors, according to The Peninsula. The market’s index subsequently dropped by 292.55 points that day, while its market capitalization fell by QR8.57bn.
The complaint, lodged against the Al Watan daily, was presented to the Public Prosecution for the faulty January 24 report.
“No date for the IPO floatation has been decided as yet,” said the DSM.
“We have the right to protect the market and at the same time we would like to make it clear that we wish to maintain cordial relations with the media,” said representatives of the DSM.
