DOHA: The Initial Public Offering (IPO) of shares representing 25.725 percent of the issued share capital of Mesaieed Petrochemical Holding Company (MPHC) has been successfully closed, Qatar Petroleum (QP) said yesterday.
The IPO comprised 323,187,677 ordinary shares, all of which were subscribed for during the subscription period from December 31 until the close of business on January 21.
The Minister of Energy and Industry and Chairman and Managing Director of QP H E Dr Mohamed bin Saleh Al Sada said: “We are delighted that this successful IPO has provided so many Qataris with an opportunity to become shareholders in MPHC, and participate in the prosperity and the success of Qatar and in the future of the country’s petrochemicals sector.
The success of the historic IPO demonstrates the confidence investors have in the strengths of MPHC’s compelling story and the attractiveness of the innovative long-term savings programme the government has put in place with the guidance of the Emir H H Sheikh Tamim bin Hamad Al Thani. We look forward to welcoming all new MPHC shareholders at this exciting time for the company, he said.
The IPO was heavily subscribed for. Allocation of shares is expected to be finalised by and announced on January 30, with any refunds to shareholders to be made by the same date.
Individual applicants will be advised of their subscriptions by SMS. It is proposed that the shares will then be admitted to trading on the Qatar Exchange in February. The Peninsula
