Qatar's Faisal Holdings plans to raise 1.04 billion riyals ($284.5 million) selling 30 percent of Aamal, a holding company it is setting up, in an initial public offering, a report said.

Aamal, which will operate in 17 industries, will have share capital of 3.45 billion riyals, the company's chairman Faisal bin Qassem al-Thani was quoted as saying by an Al-Sharq report.

Shares of Aamal would list on the Qatari bourse, the newspaper said, without giving a timeframe for the IPO. - Reuters