Home / Knowledge / News / Textiles / Qatar Petroleum to raise $880mn IPO of petrochem unit
Qatar Petroleum to raise $880mn IPO of petrochem unit
Jan '14
Qatar Petroleum (QP), the state-owned petroleum company of the country, is planning to raise 3.2 billion Qatari riyals (approx. US$ 880 million) through an initial public offering (IPO), of the shares of Mesaieed Petrochemical Holding Co. (MPHC)., in the local market.
According to the Ministry of Energy and Industry of Qatar, Mohamed bin Saleh Al Sada, the Minister of Energy and Industry and chairman of QP, and Ali Sharif Al Emadi, the Minister of Finance, announced at a press conference, the IPO of MPHC will be offered at Qatari riyals 10.2 per share (US$2.75) only to Qatari citizens, till January 21, 2014.
The decision to offer part of MPHC’s shares to Qatari nationals was taken by QP based on the success of the three companies operating under the petrochemical unit, as well as the stability of their rates of profitability and their ability to distribute profits.
The IPO would be offered to Qatari nationals till January 21st and the shares are expected to be traded in the Qatari Exchange by February 2014, according to the Ministry.
Mr. Mohamed bin Saleh Al Sada said the at the press conference that MPHC is the umbrella of three of the most successful petrochemical companies in the country QChem 1, QChem 2 and Qatar Vinyl Company Ltd.
The MPHC owns 49 percent of QChem1 and QChem2, and about 55 percent of Qatar Vinyl Company, he added.
Mr. Al Sada said that MPHC’s total assets in the three companies have realized revenues that totaled over 4 billion Qatari riyals (US$ 1.10 billion) in 2012.
According to the Minister, the company’s objective behind the IPO is to increase value of shareholders investments through increasing competitiveness, especially due to the strong industrial base of the three units operating under the firm.
The QP-owned firm holds stakes in ventures that manufacture polyethylene, caustic soda and other chemical products. Its partners in the ventures include US-based Chevron Phillips Chemical Company. 
The IPO of MPHC is the largest offering in Qatar’s stock market since 2010, and according to the Ministry of Energy and Industry, the Qatar stock market would witness IPOs worth US$13.73 billion over the next 10 years.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search