Qataris tighten grip on Barclays

Qatari investors have upped their stakes in Barclays with the conversion of mandatory convertible notes into common stock, booking paper profits of around £700m. The Qatari Investment Authority now has 7.38 per cent of the bank, while Challenger, which acts for Sheikh Hamad Bin Jassim Bin Jabr Al-Thani of Qatar Holding, has 2.84 per cent. Barclays’ steadily rising share price has increased the value of the Gulf investors’ stakes by around £700m.