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23-01-14

Qatar's Mesaieed raises USD880 m in shares' sales

(MENAFN) Mesaieed Petrochemical Holding Company, a unit of state-owned Qatar Petroleum, has raised as much as USD880 million of shares in the Qatari stock market's first initial public offering (IPO) in three years, according to Gulf Daily News. All the shares the company offered were sold with strong demand, said Qatar Petroleum. The global financial crisis has affected the IPOs in Qatar. However, the government wants to revive them and develop the country, which is the world's top exporter of liquefied natural gas, into a regional financial hub.