Qatar Petroleum plans $50bn IPOs for units
Doha, May 9, 2013
State-owned Qatar Petroleum plans to offer shares in four of its units in coming years, said Hussain al-Abdulla, executive board member of Qatar Holding, the investment arm of the country's sovereign wealth fund.
"There are four companies with QP now ready to list on Qatar Exchange," said Abdulla, who is also chairman of the exchange.
"This will be in coming years," he later told reporters. "About $50 billion total," he said, when asked about the value of the offerings.
He declined to specify the names of the companies.
In April Qatar said Doha Global Investment Co, a new $12 billion investment firm backed by assets from the sovereign wealth fund, would offer shares to the public in May as part of plans by the tiny Gulf state to share its riches with local citizens and institutions.
On Wednesday, Abdulla declined to say when the Doha Global IPO would occur. Stock traders in Qatar have been speculating that the IPO could be delayed beyond May.
"It's hard to specify. There is conversation with the regulator," Abdulla said without elaborating.
Barwa Bank, a Qatari lender part-owned by an arm of the sovereign wealth fund, has said it plans to raise QR2.05 billion ($563 million) through two share sales including a public float on the Doha bourse.-Reuters
More Energy, Oil & Gas Stories
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants