On 49 October, a total of 49% of Qatar's aluminum industries were offered


Al-Kaabi said during a press conference held on Monday that Qatar Petroleum will offer 49% of Qatar Aluminum for the public subscription. Qatar Petroleum will hold 51% of the company, which holds 50% of Qatar's aluminum% capital.

Al-Kaabi expected that the company's shares would start trading in mid-December, adding that the company's capital will reach 5.5 billion riyals ($ 1.51 billion). The subscription will be reserved only for citizens of Qatar, whether they are individuals or companies. AED 10 per share will be added as a bonus issue.

Al-Kaabi said during the press conference that the IPO is to improve investment opportunities and establish a long-term savings culture for investors and their children of Qatar, to which Qatar Petroleum has pledged when it announced his IPO in Qatar in May.

"The minimum subscription requirement for QAMCO, which will last for two weeks and will end on November 12, will be 50 shares, while the maximum subscription by individual investors is approximately 11.16 million shares," he said. 50 to 750 shares will be allocated to the same amount provided by the investor, while subscriptions will be assigned over 750 shares of the multiple bid shares of 50 shares provided that the number of shares remaining available for subscription sufficient to complete all of these subscriptions.

He added that 5% of the shares will be allocated to the civil and military pension fund, while the possibility of owning QAMCO shares will be available to foreign investors after the company's shares in the stock market through conventional trading.

He added that the IPO was subject to the provisions of Shari & ah; Islamic: the Qatar National Aluminum Company is one of the largest aluminum producers in the region and achieves high profit margins.

He pointed out that the company achieved a return of 329 million riyals in 2017, while making a profit of 224 million riyals during the first half of this year, expecting to receive dividends on the shares to be allocated based on earnings. to be reached by the second half of this year.

He said that Qatar Petroleum is eager to offer actions to project owners who have been working for a period of time and made a safe investment for citizens, and that operations are proceeding according to plan, adding that future companies will be launched in the future will be announced at the moment.

He added that this announcement marks a new stage in the history of the IPO in Qatar: Qatar Petroleum will establish QAMCO to allow Qataris to participate in profitable Qatari aluminum gains in the manufacturing sector.

Qatar Petroleum is the founder of QAMCO, with an issued capital of 5.58 billion riyals, which is divided into 558 million ordinary shares Qatar Petroleum will put 49% of the company's shares, equivalent to 273.4 million ordinary shares ( IPO shares) through initial public offering.

The price of the offered action will be QR 10 and AED 10, with a nominal value of QR 10, in addition to the IPO cost of 10 AEDs per share.

(USD = QR 3.64)

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