Barwa Real Estate Co, Qatar's largest property developer by market value, said on Monday it won ministry approval to raise another 500 million riyals ($137.4 million) in share capital.

That will increase its capital by 25 percent to 2.5 billion riyals, it said in a statement on the Qatari bourse Web site.

The Doha Securities Market on Wednesday cancelled that day's trades in shares of Barwa to "protect investors" after the shares bucked a fall in the index.

Shares of Barwa jumped 3.56 percent, the biggest gainer in Doha and the second-largest by volume traded.

After the market closed, Barwa said it planned to raise 500 million riyals by selling stock to existing shareholders to finance projects in Qatar and abroad.

The company, which is not in the index, was seeking Ministry of Economy approval to sell 50 million shares at 10 riyals each, it said in a statement on the Doha bourse Web site. - Reuters