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SUCCESS THROUGH CONVERGENCE - INDUSTRIES QATARIndustries Qatar (IQ) was designed as a holding company for a broad cross-section of downstream petrochemicals and steel industry companies. Of the authorised share capital of 500 million shares, 30 percent was floated on the local stock exchange (DSM) and thereby made available to nationals. The resulting public interest was phenomenal and the shares were quickly over-subscribed. From the offer price of QR16 per share, the share price grew by such an extent that by March 2005, the price was QR237 per share and IQ shares are the most heavily traded on the bourse.
M S M Al Sherawi, Chief Coordinator of IQ, speaks to Qatar Today about the rationale behind this convergence and the developments planned over the next few years.
What was the reason behind bringing the Q-Companies under one umbrella?
IQ is one of the largest integrated industrial holding companies in Qatar and the GCC markets.
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