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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Mesaieed Petrochemical IPO raises $880 million

7:22 AM MST | February 7, 2014 | —Francinia Protti-Alvarez

Mesaieed Petrochemical Holding Co. (MPHC; Doha) has raised 3.2 billion Qatari rials ($880 million) from its initial public offering on the Qatar stock exchange, reports say. 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. The three-week subscription...

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