Regional energy company announces stock listing of aluminum unit

07 May 2018
Company to float 49 per cent of shares on the stock market through an initial public offering

Qatar Petroleum has announced it would list 49 per cent of its mining firm Qatar Aluminum (Qatalum) shares through a public offering.

The joint aluminum smelter, in which Norway's Norsk Hydro holds half the stake, is expected to be listed on the Qatar Exchange in the fourth quarter of this year after obtaining necessary approvals.

Qatar Petroleum said in a statement that the move comes within the framework of the country's plan to increase the private sector's contribution to economic activity and to support an investment climate capable of attracting capital.

Qatar Aluminum produces more than 600,000 tonnes of primary aluminum annually.

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