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People & Business :: Companies

Qatar's Mesaieed Petrochemical IPO fully subscribed, raises $880 million

7:45 AM MST | January 27, 2014 | Francinia Protti-Alvarez

Mesaieed Petrochemical Holding Co. (MPHC; Doha) raised 3.2 billion Qatari rials ($880 million) from its initial public offering on the Qatar stock exchange, according to various media reports. The IPO was fully subscribed, the reports add. The company, a subsidiary of Qatar Petroleum (Doha), listed 323.19 million shares, equivalent to a 25.7% stake in MPHC. Foreign investors will be allowed to purchase up to 15% of the newly issued shares in the secondary market, MPHC announced earlier . The IPO, aimed at Qatari nationals only, opened on 31 December 2013, as...

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