"We asked NYSE Euronext to cut their shareholding from 25 percent to 20 percent because we have plans to take the company public in the near future and it will be listed as Qatar Exchange," Hussain al-Abdulla, board member executive of the Qatar Investment Authority (QIA), told news agency Dow Jones.
Abdulla was explaining why NYSE Euronext recently had to cut its target stake in Qatar Exchange, as well as its investment to $200 million from $250 million previously.
Qatar Exchange, the rebranded version of the Doha Securities Market following the deal with NYSE Euronext, will begin trading under the new name and a new management team Sunday.
"The start of this relationship between NYSE Euronext and the state of Qatar and Qatar Exchange will add a lot of value to us," Abdulla said.
He did not say when exactly the exchange will be listed.
He also said the exchange is planning to diversify its business by launching derivatives trading but did not say when that would happen.
NYSE Euronext CEO Duncan Niederauer said his company is still on the lookout for potential acquisitions or new investments even after its move into Europe and into countries like Brazil, Malaysia and Japan.
"Were always looking for opportunities to get involved in regions or products that are strategic or present meaningful opportunities for the company," Niederauer said.
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