Barclays Plc's biggest shareholder, the Qatari sovereign wealth fund, said it remains "supportive" of the UK's third biggest bank, a day after investors from Abu Dhabi sold a stake.
Qatar Holding, a unit of Qatar Investment Authority, "regards Barclays as a valued commercial and strategic partner, particularly in the Middle East markets, and expects to build on this fruitful relationship over the long term," said a spokesman for the state-owned fund in an e-mailed statement.
Barclays raised more than £5 billion (Dh30bn) from the Middle Eastern investors last year as it sought to boost capital and avoid a government bailout amid the worst financial crisis in 60 years.
The bank's Abu Dhabi-based investor, International Petroleum Investment Company (Ipic), sold securities in British bank Barclays worth £1.25bn, it was confirmed yesterday.
Demand for the reserve capital notes – similar to preference shares – was three times the amount on offer when they were sold on Wednesday, the Financial Times said citing people close to the matter.
Earlier this week, the state-backed IPIC had disposed of 1.3 billion shares in Barclays.
Qatar Holding sold 35 million shares in April, reducing its stake in Barclays to 487.8 million shares, or 5.8 per cent.
Barclays fell five per cent to 259.75 pence in London trading. The bank has risen fivefold since a 20-year low in January after reporting a 2008 profit, turning down the UK government's asset insurance program and deciding to sell assets.
Abu Dhabi's shares were sold on Tuesday for about £5bn, according to Credit Suisse Securities, handing IPIC a gain of £1.5 billion in seven months.
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