Al khaliji to take part in Mesaieed IPO
Doha, January 2, 2014
Doha-based Al Khalij Commercial Bank (al khaliji) is set to take part as a ‘receiving bank’ in the initial public offering (IPO) for Mesaieed Petrochemical Holding Company which commenced recently for Qatari citizens.
The 22-day IPO subscription period of MPHC will run till January 21, said a statement.
The wholly-owned subsidiary of Qatar Petroleum (QP), plans to raise QR3.23 billion ($886.2 million) by offering 323.19 million ordinary shares at QR10.2 per share (including the listing fee of QAR0.2) to the public, that represents a 26 per cent stake in the company.
The minimum subscription for individual investors is 50 shares with the maximum being one million, said the statement.
Share applicants can avail al khaliji financing of up to 100 per cent at rates as low as 3.5 per cent, it added. - TradeArabia News Service