QP Allocates
Free Shares in QAMCO to Citizens Benefiting from Social Security
Law
October 28, 2018
Qatar Petroleum
has announced that it will allocate 750 free shares in Qatar
Aluminum Company “QAMCO” (under incorporation) to each citizen
in the categories benefiting from the social security system in
the country.
These
categories include the elderly, the unable to work, orphans,
families in need, the disabled, divorcees, widows, families of
prisoners and other categories as stipulated by the law.
These
beneficiaries will be able pay to subscribe to any additional
number of shares in accordance with the terms of the prospectus,
QP said. Details of the allocation will be determined in
cooperation with the concerned authorities.
The IPO price
is QR10.10, with a nominal value of QR10, plus the subscription
and placement cost of QR0.10 per share.
Qatar Petroleum
announced on Monday (October 22nd) that it will launch an
initial public offering of shares representing 49% of the total
capital of QAMCO, a Qatari public shareholding company under
incorporation. QAMCO will own Qatar Petroleum's entire share of
50% of the total issued share capital of Qatar Aluminum Company
Limited (QP), which was established as a joint venture between
Qatar Petroleum and Hydro Norway.
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