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Qatar Aluminium up 78% on IPO

Qatar Aluminium Ltd. (Q.S.C)'s shares opened at 18 Qatari riyals, a 78% jump from the IPO price of 10.10 riyals, Reuters reported Dec. 16.

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

Qatar Petroleum had sold 49% of its shares in unit Qatar Aluminium Manufacturing Co. Q.P.S.C. for about US$758 million in October.

As of Dec. 14, US$1 was equivalent to 3.64 Qatari riyals.