Qatar now biggest investor of Barclays

LONDON: The Gulf state of Qatar became the biggest investor in Barclays yesterday, after the British bank raised £4.5 billion with a share issue.

Barclays said in a statement that existing shareholders had snapped up 19 per cent of the shares, while the remainder was bought by Asian and Middle Eastern investors in line with an agreement sealed last month.

Following the cash call, the state-run Qatar Investment Authority owns about six per cent of Barclays, while a fund representing the interests of Qatar’s prime minister has just under two per cent.

Japanese bank Sumitomo Mitsui Banking Corp has also bought a stake, while Singapore’s public investment group Temasek and the state-run China Development Bank have increased their holdings. - AFP