Qatar Petroleum plans flotations worth $50bn

12 May 2013

Four of Qatar Petroleum’s units will offer shares in coming years

State-owned Qatar Petroleum plans to offer shares in four of its units in coming years, Reuters reported on 8 May.

“There are four companies with QP now ready to list on Qatar Exchange,” said Hussain al-Abdulla, executive board member of Qatar Holding, the investment arm of the country’s sovereign wealth fund and chairman of the state’s exchange. “This will be in coming years,” he later told reporters.

“About [QR]50bn in total,” he said, when asked about the value of the offerings. He declined to specify the names of the companies.

Al-Abdulla also said the exact launch date of Doha Global Investment Company’s initial public offering (IPO), a new QR45bn ($12.4bn) investment firm that was planned to launch this month, is “hard to specify”.

Qatar Holding will transfer $3bn into the fund’s assets, with a similar amount raised in an IPO on the Qatar Exchange. The shares will only be open to Qatari citizens, companies and institutions, but foreigners will be able to buy and trade the shares once they are listed.

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