DOHA, Qatar – Qatar Petroleum has announced that it will allocate 750 free shares in Qatar Aluminium Manufacturing Company "QAMCO" (under incorporation) to all registered Qatari beneficiaries covered by the Social Security Law.
The beneficiaries stipulated by the law include the elderly, those unable to work, orphans, needy families, the disabled, divorced women, widows, prisoners' families and other categories.
In addition to the free QAMCO shares, members of the entitled groups can subscribe to an additional number of shares, if they wish, and pay the due share price in accordance with the Offering Memorandum.
The details of the free share allocation will be finalized in consultation with the various concerned entities.
QAMCO shares will be offered at QAR 10.1, which includes the nominal value per share of QAR 10, plus offering and listing costs of QAR 0.1 per share.
Qatar Petroleum has announced on Monday October 22, that it was planning an Initial Public Offering of shares representing 49% of the issued share capital of Qatar Aluminium Manufacturing Company Q.P.S.C. "QAMCO", a Qatari public joint stock company under incorporation in the State of Qatar.
QAMCO is set to own 50% of the total issued capital of Qatar Aluminium Limited Q.S.C. “Qatalum”, which is a joint venture founded between Qatar Petroleum and the Norwegian company, Hydro.
About Qatar Petroleum
Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar and beyond.
Qatar Petroleum’s activities encompass the entire spectrum of the oil and gas value chain locally, regionally, and internationally, and include the exploration, production, processing, marketing and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel and aluminum.
Qatar Petroleum is committed to contribute to a better future by meeting today’s economic needs, while safeguarding our environment and resources for generations to come. Thriving on innovation and excellence, Qatar Petroleum is bound to the highest levels of sustainable human, socio-economic, and environmental development.
For more information, please visit www.qp.com.qa© Press Release 2018
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