Doha - Qatar Petroleum (QP), the Founder of Gulf International Services (GIS) and Qatar National Bank (QNB), the Lead Receiving Bank of its Initial Public Offering (IPO) for Gulf International Services (GIS) announced that refunds for subscribers to the Right Issues of GIS were returned to them in 10 days, a record time. Subscription to GIS IPO was concluded on 12 March 2008.
This achievement was accomplished in collaboration and coordination with all the banks that participated in the GIS Initial Public Offering.Qatar Petroleum takes this opportunity to thank QNB and all the participating banks in this IPO.
GIS is a holding company created to maximize the potential revenue opportunity from the provision of services to the national and international oil and gas industry. QP offered around 70 percent of the Company's shares in an IPO between 28 February and 12 March 2008. Three portfolio companies are held under GIS - Al Koot, which provides a range of insurance and reinsurance services to Qatar Petroleum and the QP Group across operations, onshore/offshore and marine sectors; GDI which provides drilling related services to the QP Group and international co-ventures and GHC; the sole provider of helicopter transportation services in Qatar.
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About Qatar National Bank (QNB)
Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between Qatar Investment Authority (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country with a market share approaching 45% of banking sector assets. QNB has the largest distribution network of 42 branches and offices (including 3 mobile branches), in addition to 10 Islamic branches and offices, and 130 Automated Teller Machines (ATMs).
QNB's international presence is rapidly expanding to include new locations around the world to supplement existing branches in London and Paris and the Representative Office in Iran. QNB's new branches in Yemen, Oman & Kuwait and its representative offices in Libya & Singapore began its operations in 2007. Recently, QNB, obtained licenses to operate in Sudan and Mauritania.
As part of the same expansion plan, QNB has acquired 30.5% of the shares of the Jordan based, The Housing Bank for Trade and Finance (HBTF) which operates in Palestine, Bahrain, Algeria, Syria, UAE, Libya and Iraq, in addition to Jordan. QNB also signed an agreement to establish the Qatar National Bank-Syria jointly with other Syrian private and public sectors institutions with 49% share.
QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.
Through its Islamic branch, QNB Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.
The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, the Bahamas, Dubai International Financial Center and Qatar Financial Center. Ansbacher was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.
QNB has the highest credit rating among regional banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards for its innovative products, services and remarkable performance from leading international specialized financial publications.
QNB has an active community support program and sponsors various social, educational, and sports events.
For further information, please contact:
QNB's Public Relations Department
Tel: (974) 4252591
Fax (974) 4252589
Email: PR@qnb.com.qa
Website www.qnb.com.qa
© Press Release 2008
