Shares of Qatar Aluminium surge above IPO price on debut

Shares of Qatar Aluminium opened at 18.00 riyals on Sunday, 78 per cent above their initial public offer price of 10.10 riyals, capping a successful run for Qatar’s biggest equity listing this year, according to Reuters.

State-owned Qatar Petroleum sold 49 per cent of its shares in its subsidiary Qatar Aluminium Manufacturing Co in late October in a deal that raised roughly $758 million.

The IPO price included the offering and listing costs of 0.1 riyal per share.