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Tue 18 Feb 2014 08:43 PM

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Qatar Petroleum unit to list shares next week

Move will open up trading in Mesaieed Petrochemical Holding Co shares to foreigners

Qatar Petroleum unit to list shares next week

Qatar's stock exchange will list Mesaieed Petrochemical Holding Co, a unit of state-owned Qatar Petroleum, on February 26, it said on Tuesday, opening up trading in the shares to foreigners.

Qatar's foreign minister has said foreigners, who account for the majority of the population in the Gulf state, will be allowed to buy up to 15 percent of Mesaieed in the secondary market.

Earlier this year, Mesaieed raised QR3.2 billion ($880 million) in the Qatari stock market's first initial public offering (IPO) since 2010, which was only open to Qatari nationals.

The exchange said Mesaieed would be listed in the industrial sector with the symbol MPHC.

Mesaieed holds stakes in ventures that manufacture polyethylene, caustic soda and other chemical products. Its partners in the ventures include the US company Chevron Phillips Chemical Co.

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