Mubasher: Qatar Petroleum (QP) on Tuesday started the initial public offering (IPO) of Qatar Aluminium Limited’s (Qatalum) shares.
The floated shares represent 49% of the issued share capital of Qatalum, according to QP’s statement.
The shares will be offered at QAR 10.1, which includes the nominal value per share of QAR 10, plus offering and listing costs of QAR 0.1 a share.
Earlier this month, QP announced that it would offer Qatalum’s shares for IPO by the end of October.
The subscription period will take place during two weeks starting from 30 October and finishing by the end of 12 November.
On 18 October, Qatar Financial Markets Authority (QFMA) announced that it had approved Qatalum’s IPO.
In the same vein, three Qatari banks on Monday revealed their plans to finance the subscribers to Qatalum’s IPO.
The three banks are Qatar National Bank (QNB), Qatar International Islamic Bank(QIIB) and Ahli Bank.
