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QInvest buys 44% stake in 130-year old UK Panmure stockbroking firm

Fri, 2009-05-22 21:53 — IslamicFinance.de

QInvest, trumped two other bidders to buy a 44 % stake in Panmure Gordon & Co, investing USD 36.3 mn in the 130-year-old British stockbroking firm. The deal would involve a placing of 67.5 million shares, priced at 34 pence per share a 15 % discount on Wednesday's closing price.

Panmure said the cash injection would enhance its balance sheet and give it the financial strength to grow into new business areas and locations, including the Gulf.

Source: 

http://www.arabianbusiness.com/556346-qatar