Middle East Economic Survey

VOL. XLVIII

No 46

14-November-2005

QATAR

Qatar Foreign Minister Takes Major Holding In Sky Petroleum

Texas-based Sky Petroleum announced on 3 November that Qatars Foreign Minister Shaikh Hamad bin Jasim Al Thani had taken up 36% of the companys shares through a private placement (MEES 22 August). The investment was made through a placement of 3,055,556 shares of Series A Preferred Stock at a price of $3.60/share for aggregate gross proceeds of approximately $11mn. Each...