Qatar Petroleum to Offers 49% of Qatar Aluminum Shares for 30^th October IPO

October 22, 2018

Engineer Saad Bin Sherida Al Kaabi, President and CEO of QP announced the establishment of QAMCO, which is set to own 50% of the total issued capital of Qatar Aluminium Limited QSC (Qatalum), a joint venture founded by QP and the Norwegian company, Hydro.

Al Kaabi also announced that the offered shares representing 49% of the total issued share capital of Qatalum will be in the form of ordinary shares offered for subscription for two weeks starting on 30 October and ending at the end of business day on 12 November.

In a press conference this morning, Al Kaabi explained that the IPO comes in line with the directives of HH the Amir, Sheikh Tamim bin Hamad Al Thani, to enhance investment opportunities and engrave the importance of cultivating long term investing culture within Qatari investors and their children.

Al Kaabi continued: the IPO represents a new and important investment opportunity for Qatari nationals, which will give Qatari citizens the opportunity to share in the rewarding returns generated by Qatar Aluminium through an IPO.

Al Kaabi noted that QP has authorized the transfer of its entire 50% stake in Qatalum to QAMCO. They will retain a 51% shareholding and offer 49% of QAMCO’s issued shares in the IPO.

QAMCO has a proposed issued share capital of QR 5,580,120,000. The offered shares will be offered at QR10.1, which includes the nominal value per share of QR10, plus offering and listing costs of QR0.1 per share.

The subscription period will be open for two weeks starting on 30 October and ending at the end of business day on 12 November.

Commenting on the IPO, Mr. Al Kaabi said: “Qatari investors wishing to participate in the IPO can fill out and submit the application form available at the branches of participating banks in Qatar.”

The offered shares will be offered to Qatari citizens only, while 5% will be dedicated to a handful of Qatari institutions. Non-Qatari and international investors can buy shares in the secondary market post listing.