Qatar Petroleum (QP) announced final details relating to the allocation of shares and any refunds made to applicants in the Initial Public Offering (IPO) of shares representing 25.725% of the issued share capital of Mesaieed Petrochemical Holding Company QSC (MPHC).
H.E Dr. Mohammed Bin Saleh Al- Sada, Minister of Energy and Industry and Chairman and Managing Director, Qatar Petroleum, expressed his delight at the successful completion of the IPO. “The overwhelming response to the IPO reflects Qatari nationals’ confidence in the strength and durability of the national economy and the policies pursued by the government under the directives of His Highness Sheikh Tamim Bin Hamad Al Thani, Emir of Qatar. These policies aim to ensure a prosperous future for the people of this country in accordance with Qatar National Vision 2030. The subscription process was very smooth.
“I take this opportunity to thank all those who contributed to the success of the IPO and its completion in the announced time frame, especially the Qatar Financial Markets Authority, the Ministry of Economy and Commerce, Qatar Exchange, the working team at the Department of Finance, QP, and all consultants who worked on this transaction. QP’s main objective with this IPO was to encourage long-term investment among Qataris by retaining their shares for long periods of time and therefore reaping the benefits of long-term investment.”