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QP to Allocate Free QAMCO Shares for Qataris Covered by Security Law

Source: www.gulfoilandgas.com 10/28/2018, Location: Middle East

Qatar Petroleum will allocate 750 free shares in Qatar Aluminium Manufacturing Company "QAMCO" (under incorporation) to all registered Qatari beneficiaries covered by the Social Security Law.

The beneficiaries stipulated by the law include the elderly, those unable to work, orphans, needy families, the disabled, divorced women, widows, prisoners' families and other categories.

In addition to the free QAMCO shares, members of the entitled groups can subscribe to an additional number of shares, if they wish, and pay the due share price in accordance with the Offering Memorandum.

The details of the free share allocation will be finalized in consultation with the various concerned entities. QAMCO shares will be offered at QAR 10.1, which includes the nominal value per share of QAR 10, plus offering and listing costs of QAR 0.1 per share.

Qatar Petroleum has announced on October 22, that it was planning an Initial Public Offering of shares representing 49% of the issued share capital of Qatar Aluminium Manufacturing Company Q.P.S.C. "QAMCO", a Qatari public joint stock company under incorporation in the State of Qatar.

QAMCO is set to own 50% of the total issued capital of Qatar Aluminium Limited Q.S.C. “Qatalum”, which is a joint venture founded between Qatar Petroleum and the Norwegian company, Hydro.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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