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