Gulf International Services Initial Public Offering Nears Close
Qatar Petroleum today reminded Qatari potential investors that subscription in the Initial Public Offering of Gulf International Services Q.S.C (GIS) closes on Wednesday March 12 at 1pm.
The offer share price has been set at QR21 per offer share, with offering costs of QR0.6, and applications are invited from all Qatari citizens. GIS is a newly established holding company comprising Al Koot Insurance and Reinsurance Company S.A.Q (Al Koot), Gulf Drilling International Limited Q.S.C (GDI) and Gulf Helicopter Company Q.S.C (GHC).
Qatari individuals will be able to apply for shares until March 12, 2008 at all branches of Qatar National Bank (QNB), the IPO’s Lead Receiving Bank, and at the following receiving banks:
• Al Ahli Bank (Salwa, Merqab, Old Airport, Mansoura - Markhiya, Wakra - Al Khor, Al Rayan branches)
• Arab Bank (Doha, Al Sadd, C-Ring Road branches)
• Commercial Bank of Qatar (all branches)
• Doha Bank (City Centre branch)
• HSBC (all branches)
• International Bank of Qatar (Main, Markiya branches)
• Qatar Islamic Bank (all branches)
• International Islamic (Main, Kahraba, Gharafa, Wakrah, Salwa, Al Hilal, West Bay branches)
• Rayan Bank (all branches)
No cheques will be accepted for this IPO from the receiving banks. Cheques will be accepted from non-receiving banks only.
Further information about the IPO can be found at: http://www.qp.com.qa/gis-ipo
Notes to Editors:
Gulf International Services QSC
GIS is a holding company created to maximize the potential revenue opportunity from the provision of services to the national and international oil and gas industry. Thanks to its close links to Qatar Petroleum and the QP Group, GIS is well-situated to become a leading force in this industry. Qatar Petroleum will continue to hold approximately 30% of the GIS share capital.
Currently three portfolio companies are held under GIS – Al Koot, which provides a range of insurance and reinsurance services to Qatar Petroleum and the QP Group across operations, onshore/offshore and marine sectors; GDI which provides drilling related services to the QP Group and international co-ventures and GHC; the sole provider of helicopter transportation services in Qatar.
Qatar Petroleum
Qatar Petroleum (QP), formerly Qatar General Petroleum Corporation, is a state-owned corporation established by Emiri Decree in 1974, with responsibility for all phases of the oil and gas industry in Qatar, covering exploration, drilling and production operations, transport, storage, and sale of crude oil, natural gas liquids, liquefied natural gas, gas-to-liquids, refined products, petrochemicals and fertilizers, and providing helicopter and other services.
