Qatar plans IPOs worth 50 bln riyals over 10 years - energy minister

DOHA Sun Dec 22, 2013 6:30am EST

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DOHA Dec 22 (Reuters) - Qatar plans to conduct initial public offers of shares worth 50 billion riyals ($13.7 billion) in its stock market over next 10 years, Energy and Industry Minister Mohammed Saleh al-Sada said on Sunday.

This will encourage investment in the market, he told a news conference held to announce the country's first IPO since 2010, a 3.2 billion riyal offer of shares in Mesaieed Petrochemical Holding Co, a unit of state-owned Qatar Petroleum.

"We encourage citizens to take part in this investment and also to await other opportunities in the pipeline," he said.

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