Qatar Petroleum plans to raise US$ 880 mln through an IPO

04-Jan-14

State owned Qatar Petroleum (QP) plans to raise 3.2 billion Qatari riyals (approx. US$ 880 million) through an initial public offering (IPO), of the shares of Mesaieed Petrochemical Holding Co. (MPHC)., in the local market. QP expects to start selling a 26% stake in Mesaieed Petrochemical Holding Co in a sale only open to Qatari citizens. the IPO of MPHC will be offered at Qatari riyals 10.2 per share (US$2.75) till January 21, 2014.