DOHA: Al Khalij Commercial Bank (Al Khaliji) has announced that it would provide up to 100 percent finance of the subscription amount for customers who wish to subscribe the Initial Public Offering (IPO) of Mesaieed Petrochemical Holding Company (MPHC). The bank will offer this for rates as low as 3.5 percent, the bank said in a statement yesterday.
Al Khaliji customers can apply for MPHC shares at Bin Omran and C-Ring branches or by visiting the bank’s service centre located on the ground floor of its headquarters in West Bay.
The bank said that Al Khaliji premium banking relationship managers will also assist customers with the subscription and financing details. The 22-day IPO subscription period of the MPHC will run until January 21, 2014.
MPHC, a wholly-owned subsidiary of Qatar Petroleum (QP), plans to raise QR3.23bn by offering 323.19 million ordinary shares at QR10.2 per share (including the listing fee of QR0.2) to the public, that represents a 26 percent stake in the company. The minimum subscription for individual investors is 50 shares with the maximum being one million.