+ A
A -
Tribune news network
DOHA
Baladna has successfully closed its initial public offering (IPO) subscription period, the company announced in a statement on Tuesday.
The offering comprised of 1.42 billion new shares (offer shares) representing 75% of the share capital of the company.
The IPO subscription period (October 27 to November 7), witnessed high demand from investors, with the offer shares being oversubscribed, Baladna said.
“In light of this demand, priority will be given during the allocation process to retail investors, followed by corporate investors, in line with the allocation strategy outlined in the IPO prospectus,” the company stated.
Baladna said the allotment of offer shares and refunds of excess application amounts, if any, will occur by November 21, while share trading on the Qatar Stock Exchange is expected to commence in mid-December 2019.
Baladna CEO Kamel Abdallah said: “This is an exciting day for Baladna and for the Qatari market in general. We are very proud that so many investors have shown us their confidence in the market and our compelling growth story. Those who have applied to invest in Baladna as part-owners of Qatar’s fast-expanding fresh dairy and beverage industry have strengthened all of us by bringing nature and technology together to help nourish a prosperous Qatar and a healthy economy for years to come.
“Now we will focus on delivering the results we have described in our growth plans. We, together with all our new shareholders, are looking forward to Baladna becoming a listed company.”
DOHA
Baladna has successfully closed its initial public offering (IPO) subscription period, the company announced in a statement on Tuesday.
The offering comprised of 1.42 billion new shares (offer shares) representing 75% of the share capital of the company.
The IPO subscription period (October 27 to November 7), witnessed high demand from investors, with the offer shares being oversubscribed, Baladna said.
“In light of this demand, priority will be given during the allocation process to retail investors, followed by corporate investors, in line with the allocation strategy outlined in the IPO prospectus,” the company stated.
Baladna said the allotment of offer shares and refunds of excess application amounts, if any, will occur by November 21, while share trading on the Qatar Stock Exchange is expected to commence in mid-December 2019.
Baladna CEO Kamel Abdallah said: “This is an exciting day for Baladna and for the Qatari market in general. We are very proud that so many investors have shown us their confidence in the market and our compelling growth story. Those who have applied to invest in Baladna as part-owners of Qatar’s fast-expanding fresh dairy and beverage industry have strengthened all of us by bringing nature and technology together to help nourish a prosperous Qatar and a healthy economy for years to come.
“Now we will focus on delivering the results we have described in our growth plans. We, together with all our new shareholders, are looking forward to Baladna becoming a listed company.”
