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Wed 9 May 2007 12:01 PM

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Qatar and Oman share in investment

Qatar National Bank will manage the IPO of a company focused on investing in both countries.

Qatar National Bank is to manage the initial public offering of the newly established Qatar & Oman Investment Company.

HE Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani, president of the company's founding committee said: "The company seeks to invest in different types of investment in Qatar and Oman including industrial, services, commercial, tourist, agricultural, real estate and other projects to achieve the economic, commercial and social development in both Qatar and Oman."

The Qatar & Oman Investment Company has been established equally between Qatar and Oman with a capital of QR300 million (US$82.4m), to be distributed in 30 million shares listed on the Doha Securities Market.

The promoters, Qatar Investment Authority and the Government of the Sultanate of Oman, have taken 12 million shares, with the remaining 18 million to be offered for public offering and divided equally between Qatar and Oman.

Citizens of other countries will be allowed to purchase company shares after the listing, which is expected to take place next month.

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