Shares of #Qatar Aluminium surge above IPO price on debut | Reuters

Shares of Qatar Aluminium surge above IPO price on debut | Reuters:

Shares of Qatar Aluminium (QAMC.QA) opened at 18.00 riyals on Sunday, 78 percent above their initial public offer price of 10.10 riyals, capping a successful run for Qatar’s biggest equity listing this year.

State-owned Qatar Petroleum sold 49 percent of its shares in its subsidiary Qatar Aluminium Manufacturing Co in late October in a deal that raised roughly $758 million.

The IPO price included the offering and listing costs of 0.1 riyal per share.