Qamco IPO oversubscribed 2.5 times - The Peninsula Qatar

Qamco IPO oversubscribed 2.5 times - The Peninsula Qatar:

Qatar Petroleum announced the successful closure of the Initial Public Offering (IPO) of shares representing 49% of the issued share capital of Qatar Aluminium Manufacturing Company Q.P.S.C (“QAMCO”).

The offering comprised a total of 273,425,880 ordinary Shares, all of which were subscribed for during the IPO subscription period, which ran from Tuesday, 30 October 2018 until the close of business on Monday, 12 November 2018.  

H E Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of Qatar Petroleum, said: “This IPO followed the directive of His Highness Sheikh Tamim bin Hamad Al-Thani, the Amir of the State of Qatar, to encourage a strong investment climate and a long-term savings culture for Qatari citizens. The successful subscription of the IPO reflects the strength of Qatar’s economy, and the confidence in the State’s economic policies pursued under the Qatar National Vision 2030 which support the development of Qatar stock market.”