Qatar Petroleum to list 49% of its shares in Qatalum for public offering
State energy giant Qatar Petroleum will offer 49 percent of its shares in Qatar Aluminium (Qatalum) for public offering. The move is “part of the State's plan to increase the participation of the private sector in economic activity and supporting an investment climate capable of attracting capital,” according to the compny.
The necessary procedures and approvals are expected to be taken for listing on the Qatar Exchange during the last quarter of this year. Qatar Petroleum will also establish a holding company that will acquire Qatar Petroleum's stake in Qatalum.
Qatalum, a jointly owned by the Norwegian company Hydro, produces about 645,000 tons per year of high quality aluminium. Qatalum uses the HAL275 system, an environmentally friendly, energy-efficient technology.
Qatalum’s state-of-the-art cast house products are value-added extrusion ingots and foundry alloys are used in a variety of industries including the automotive, construction, engineering and in the manufacturing of consumer goods.
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