Qatar’s Minister of Energy Muhammad al-Sada and Minister of Finance ‘Ali al-‘Imadi announced late last week that an initial public offering (IPO) of shares in Qatar Petroleum (QP) subsidiary Mesaieed Petrochemical Holding Company (MPHC) would take place from 31 December 2013 to 21 January 2014. Qatar’s first IPO since 2010 is open to Qatari nationals only, and will comprise 27.725% of the company’s shares. (For political reasons Doha is keen to share its energy wealth among citizens.)
QP said the shares are priced at QR10.2 ($2.80), including offering and listing fees of QR0.2 ($0.05) per share. The IPO will comprise a total of 323.187mn shares, valued at QR3.23bn ($885.83mn). QP estimates the total equity of the company at QR12.56bn ($3.44bn). The state firm expects trading of the shares on the Qatar Exchange to begin in February. (CONTINUED - 389 WORDS)
