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|16 December, 2018

Shares of Qatar Aluminium surge above IPO price on debut

The IPO price included the offering and listing costs of 0.1 riyal per share

A trader watches an electronic share price display at the Doha Stock Exchange in downtown Doha March 19, 2015.

A trader watches an electronic share price display at the Doha Stock Exchange in downtown Doha March 19, 2015.

REUTERS/Mohammed Dabbous

DUBAI - Shares of Qatar Aluminium opened at 18.00 riyals on Sunday, 78 percent above their initial public offer price of 10.10 riyals, capping a successful run for Qatar's biggest equity listing this year.

State-owned Qatar Petroleum sold 49 percent of its shares in its subsidiary Qatar Aluminium Manufacturing Co in late October in a deal that raised roughly $758 million.

The IPO price included the offering and listing costs of 0.1 riyal per share.

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(Reporting by Saeed Azhar; Editing by Andrew Torchia) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))

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