Qatar Petroleum unit picks banks for $880 million IPO: sources | Reuters

Qatar Petroleum unit picks banks for $880 million IPO: sources | Reuters:

"Qatar Petroleum QATPE.UL, the state-owned energy firm, has picked two banks to help arrange an initial public offer of shares in one of its units, an issue which could be worth around 3.2 billion riyals ($880 million), two banking sources said.

Mesaieed Petrochemical Holding Co may conduct the IPO on the Qatar stock exchange before the end of this year, subject to necessary approvals being granted, one of the sources said, speaking on condition of anonymity as the information isn't public. It would be Qatar's first IPO in three years.

Qatar National Bank QNBK.QA has been chosen to manage the offer while Deutsche Bank (DBKGn.DE) will act as financial adviser, the two sources said. Qatar Petroleum declined to comment."

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