2.5 Times
Oversubscribed, QP Announces Successful Closure of QAMCO IPO
November 14, 2018
Qatar Petroleum announced the
successful closure of the Initial Public Offering (IPO) of
shares representing 49% of the issued share capital of Qatar
Aluminium Manufacturing Company Q.P.S.C (“QAMCO”).
The offering comprised a total of
273,425,880 ordinary Shares, all of which were subscribed for
during the IPO subscription period, which ran from Tuesday, 30
October 2018 until the close of business on Monday, 12 November
2018.
H.E. Saad Sherida Al-Kaabi, the
Minister of State for Energy Affairs, President and CEO of Qatar
Petroleum, said: “This IPO followed the directive of His
Highness Sheikh Tamim bin Hamad Al-Thani, the Amir of the State
of Qatar, to encourage a strong investment climate and a
long-term savings culture for Qatari citizens. The successful
subscription of the IPO reflects the strength of Qatar’s
economy, and the confidence in the State’s economic policies
pursued under the Qatar National Vision 2030 which support the
development of Qatar stock market.”
The IPO was oversubscribed 2.5
times the amount of shares offered to individual investors.
Allocation of Shares is expected to be finalized and announced
on Sunday 25 November 2018, and any refunds to shareholders will
be made on the same date. Individual applicants will be advised
of their subscriptions via SMS. The Shares are planned to be
traded on the Qatar Exchange in December 2018.
|