Tuesday Last Day for Qataris to Subscribe for Shares in the IPO of Mesaieed Petrochemical Holding Company
Qatar Petroleum (QP) reiterated that the subscription period for the Initial Public Offering (IPO or Offering) of shares (the “Shares”), representing 25.725% of the issued share capital of Mesaieed Petrochemical Holding Company Q.S.C. (MPHC) will end at close of business in Doha on Tuesday 21 January 2014 and that any applications submitted after this deadline will not be accepted.
Participating branches of the Receiving Banks in Qatar may have different opening hours. Investors are encouraged to check the opening hours of their local branch to avoid disappointment. According to QP, the interest shown by the Qatari public in the MPHC IPO over the past three weeks had been very encouraging and that many Qataris have recognised the attractiveness of MPHC’s innovative and rewarding shareholder loyalty programme that gives investors the conditional right to receive Incentive Shares in 5 and 10 years. QP went on to emphasise that, for those people who have not yet subscribed for Shares, that Tuesday, 21 January, is the last day to do so. The IPO is open to all Qatari nationals and it is important to remember that first degree relatives and legal guardians can apply to subscribe for Shares on behalf of their children and minors. By close of business on Tuesday, 21 January 2014, all Qatari families are invited to participate in the MPHC IPO and to benefit directly from MPHC’s competitive strengths and strategy in accordance with the State of Qatar’s policy to encourage long-term investment and the development of a savings culture across the nation.
Participating in the IPO
- The IPO is open within Qatar to all Qatari nationals and certain selected Qatari institutions.
- Taking part in the IPO is simple. Qataris can participate by completing and submitting an application form, which is available from participating branches of the receiving banks in Qatar.
- There has been strong interest in the IPO since the start of the subscription period and more application forms have been printed and are being made available for use in bank branches.
These receiving banks and their participating branches are:
The Lead Receiving Bank:
– Qatar National Bank All branches in Qatar
The participating branches of the following banks:
– Al Ahli Bank
Salwa, Al-Sadd, Mirqab, Wakra, Al Khor, Rayyan
– Al Khaliji Commercial Bank
Head Office Doha, Bin Omran, C-Ring Road
– Arab Bank
Doha Main Branch, Al-Sadd, C-Ring Road
– Barwa Bank
Doha Main Branch, Al-Sadd, Al-Shafi, Al-Fardan Towers
– Commercial Bank of Qatar
All retail branches in Qatar
– Doha Bank
IPO Center, 5th floor, Main Branch, Doha
– International Bank of Qatar
Doha Main Branch
– Mashreq Bank
– Masraf Al Rayan
Al-Sadd, Grand Hamad, Doha City Center, Qatar University, Salwa, C-Ring Road, Wathnan, Wakra, Qatar Olympic Committee Building (West Bay)
– Qatar International Islamic Bank
Khraba, Hilal, Bin Omran, Al-Khuraytiyat, Gharafa, Salwa, West Bay, Mirqab, Wakra
– Qatar Islamic Bank
Gharafa, Airport, Al-Khuraytiyat, Wakra, Al-Sadd, Salwa, Rayyan, Fanar, Al-Khor, C-Ring Road
It is not necessary for an applicant to provide a National Investor Number (NIN) as part of the application process. The Qatar Central Securities Depositary will determine if an applicant has a NIN, and will allocate a NIN to any applicant who does not have one, free of charge.
Terms of the IPO
The price per Share is QR10 plus offering and listing costs of QR0.20 per Share (total of 10.20 QAR per share). The Offering comprises a total of 323,187,677 ordinary shares, representing 25.725% of the issued share capital of the Company. On the basis of the offer price, the size of the Offering is QR3,231,876,770 and the total equity value of the Company represents QR12,563,175,000. Free Incentive Shares will be offered to IPO shareholders under certain conditions.
IPO Timetable and Key Dates
The IPO subscription period started on 31 December 2013 and the remaining timetable is as follows:
- 21 January 2014 End of IPO subscription period
- By 30 January 2014 Allocation of Shares completed and refunds made to shareholders where applicable
- February 2014 Anticipated MPHC Listing on Qatar Exchange
- 31 December 2018 First Incentive Shares award date
- 31 December 2023 Second Incentive Shares award date
For more information, refer to the MPHC offering Prospectus, which provides extensive details regarding the aforementioned matters or through its website.