Qatar National Bank acts as IPO manager for new Qatari-Omani investment company

The agreement was signed by H.E. Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani, president of the company's Founding Committee, on behalf of the company, and Mr. Mohammed Ali Al Khulaifi, on behalf of QNB, in the presence of several officials from both parties.

H.E. Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani said: "The company seeks to invest in different types of investment in Qatar and Oman including industrial, services, commercial, tourist, agricultural, real estate and other projects to achieve the economic, commercial and social development in both Qatar and Oman."

"The establishment of this company is in line with the direction of H.H. Sheikh Hamad bin Khalifa Al-Thani the Emir of Qatar, and his brother, H.H. Sultan Qaboos Bin Said, Sultan of Oman, in order to strengthen the cooperation and the strong sisterly ties between Qatar and Oman." Sheikh Abdul Rahman added.

The Qatar & Oman Investment Company has been established equally between Qatar and Oman, with a capital of QR. 300 million distributed to 30 million shares with the nominal share value being set at 10 Qatari riyals per share, through the joint Qatari Omani Committee presided by H.E. Abdullah Bin Mohammed Al Attiyah, Deputy Prime Minister & Minister of Energy and Industry.

The promoters (Qatar Investment Authority and the Government of the Sultanate of Oman) have subscribed 12 million shares, fully paid including 3% being subscription and issuance fees.

The remaining shares, which are 18 million, shall be offered for public offering equally between Qatar and Oman at Qr. 10 nominal value for the share plus 3% subscription and issue fees.

The expected date for the public offering of shares is next month, keeping in mind that the Articles of Association of the company allows citizens of countries other than Qatar and Oman to subscribe in the company shares after the company is listed in the Doha Securities Market according to the effective rules and regulations in such markets. No single shareholder would be allowed to own more than 5% of the total shares by ways other than inheritance and will. However, promoters are excluded from this rule.

Mr. Al Khulaifi said: "On behalf of QNB, I would like to extend our congratulations to everyone who is behind the establishment of Qatar & Oman Investment Company. It is an honor for us to be appointed as manager and issuance agent. QNB has always been well prepared in fulfilling its tasks especially when it comes to customer service. We are pleased to take this responsibility, and we will have all our branches and offices at the disposal of subscribers, along with the new electronic IPO service, which the bank launched last April to facilitate a fast and easy subscription process for the bank's customers."

Appointing QNB to play dual roles of IPO manager and agent testifies to the Company's founder's strong belief in QNB's capabilities to carry out this mission and affirms the bank leading role in this matter. QNB was the IPO Manager for most of the IPO's that were listed in the DSM, since its inception in 1997 which were part of record growth in Qatar's economy.