May 6, 2018 / 12:25 PM / 3 months ago

Qatar Petroleum says will list 49 pct of its shares in aluminium plant

DUBAI, May 6 (Reuters) - State energy giant Qatar Petroleum said on Sunday that it will list 49 percent of its shares in the country’s aluminium smelter plant Qatalum in a public offering.

The joint venture, in which Norway’s Norsk Hydro owns 50 percent, is expected to be listed on the Qatar Exchange during the last quarter of this year after the necessary approvals.

The move is part of the country’s plan to “increase the participation of the private sector in economic activity and supporting an investment climate capable of attracting capital,” the company said in a statement.

The plant produces more than 600,000 tonnes of primary aluminium per year. (Reporting by Rania El Gamal; Editing by Elaine Hardcastle)

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