Business | Oil & Gas
Qatar to sell 65.8% of oil services firm
State-owned Qatar Petroleum said yesterday it would sell a 65.8 per cent stake in a new holding firm grouping three services firms in a 14-day initial public offering starting on February 28.
- Reuters
- Published: 00:08 February 18, 2008
Dubai: State-owned Qatar Petroleum said yesterday it would sell a 65.8 per cent stake in a new holding firm grouping three services firms in a 14-day initial public offering starting on February 28.
Qatar Petroleum, which will retain a 30 per cent stake in Gulf International Services, will sell shares to nationals at 21 riyals ($5.77) each, plus a 0.6-riyal offering cost, it said. Another 4.2 per cent stake will be reserved for selected institutions, it said.
Qatar Petroleum sold a 30 per cent stake in Industries Qatar in 2003.
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