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GIS IPO nears closure

Doha, March 11, 2008

Qatar Petroleum has announced that subscription in the initial public offering of Gulf International Services (GIS) closes on March 12.

The offer share price has been set at QR21 per offer share, with offering costs of QR0.6, and applications are invited from all Qatari citizens, the company said in a statement.

GIS is a newly established holding company comprising Al Koot Insurance and Reinsurance Company SAQ (Al Koot), Gulf Drilling International Limited (GDI) and Gulf Helicopter Company (GHC). 

Qatari individuals will be able to apply for shares until March 12, 2008 at all branches of Qatar National Bank (QNB), the IPO’s Lead Receiving Bank, and at the following receiving banks: Al Ahli Bank (Salwa, Merqab, Old Airport, Mansoura - Markhiya, Wakra - Al Khor, Al Rayan branches); Arab Bank (Doha, Al Sadd, C-Ring Road branches); Commercial Bank of Qatar (all branches); Doha Bank (City Centre branch); HSBC (all branches); International Bank of Qatar (Main, Markiya branches); Qatar Islamic Bank (all branches); International Islamic (Main, Kahraba, Gharafa, Wakrah, Salwa, Al Hilal, West Bay branches) and Rayan Bank (all branches), the company said.

No cheques will be accepted for this IPO from the receiving banks. Cheques will be accepted from non-receiving banks only, it added. – TradeArabia News Service




Tags: IPO | Qatar Petroleum | capital market | GIS |

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