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Qatar's Mesaieed will not be added to MSCI index

Dubai, August 17, 2014

Qatar's Mesaieed Petrochemical Holding Company (MPHC) said that it would not be included in MSCI's All-Country World Index, contrary to an initial MSCI statement last week saying the company would be included.

"MSCI through their press release issued on August 13, included MPHC in their MSCI Emerging Market Index and MSCI ACWI Growth Index," Mesaieed said on Sunday.

Mesaieed's shares rose 5.0 per cent to a five-month high on Thursday after MSCI's initial statement last week.

It then added, "MSCI through their press release issued on August 14, mentioned that MPHC will not be added to their Index contrary to what was stated earlier.”

Shares in Mesaieed tumbled on Sunday after the announcement. It was down 5.6 per cent at 0631 GMT, as the main Qatar index dropped 0.3 per cent. - Reuters




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