DOHA: Qatar’s Mesaieed Petrochemical 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.

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

“MSCI Inc. through their press release issued on Aug. 13, 2014, included MPHC in their MSCI Emerging Market Index and MSCI ACWI Growth Index,” Mesaieed said on Sunday. It then added:

“MSCI Inc. through their press release issued on Aug. 14, 2014 mentioned that MPHC will not be added to their Index contrary to what was stated earlier by MSCI Inc.”