Wednesday, February 01, 2006

Emirati IPO subscribers in Qatar ‘exploited’ :: Khaleej Times


one UAE national who were (sic) there said he had to pay more than QR200 just to get one single IPO form from the 'black market'. Queue slips were sold between QR1,000 to QR3,000, depending on how close one is to ending his transaction.

Hundreds of UAE nationals drove or flew to Qatar to subscribe, and one of them, it was revealed, carried the passports of at least 1,200 people to subscribe on their behalf. There were many women among the subscribers.
Sounds like the California Gold Rush days.

If you are that eager, you are ripe for the plucking - if you'll allow me to mix my metaphors. Isn't this the same as selling jobs to desperate low wage workers? Not that that ever happens.

Besides, what's wrong with selling queue slips? The sellers are simply trying to get rich quick.


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