Mubasher: Qatar Financial Markets Authority (QFMA) announced that it has approved Qatalum’s (Qatar Aluminium) initial public offering (IPO) application.

Qatalum will announce the IPO details later in a press conference, according to QFMA’s recent statement.

In May, Qatar Petroleum (QP) announced a plan to list around 49% of Qatar Aluminium's (Qatalum) shares on the Qatar Stock Exchange (QSE) by the end of 2018.

Qatalum, which is a joint venture between Qatar Petroleum and Hydro Aluminium, achieved a revenue of QAR 5.1 billion for the full-year 2017, and a net profit of QAR 660 million.