December 16, 2018 / 6:49 AM / a month ago

Shares of Qatar Aluminium surge above IPO price on debut

DUBAI (Reuters) - Shares of Qatar Aluminium QAMC.QA 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.

Reporting by Saeed Azhar; Editing by Andrew Torchia

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