Doha, Qatar: QNB Group, a leading financial institution in the Middle East and Africa, announced that all subscribed shares in the Initial Public Offering for Dandy Ltd Company (Dandy) have now been allocated.
With the final share allocations having been confirmed, Dandy will now proceed with the remaining stages of its IPO. Trading in Dandy’s stock is expected to commence in November pending finalisation of its admittance to the exchange. Through the IPO, Dandy is making 40 percent of its equity available, with strong appetite already from institutional investors including insurers and private investment firms.
QNB Group acted as Lead Receiving Bank. Other receiving banks included: Ahli Bank, AlRayan Bank, The Commercial Bank, Doha Bank, Dukhan Bank, Qatar International Islamic Bank, and Qatar Islamic Bank. Maroon Capital Advisory LLC acted as the Offering and Listing Advisor.
41,200,000 shares, priced at QR5.01 have been allocated in the IPO. The total size of the offering is QR206,412,000, including the offering and listing fees. Dandy’s market capitalisation at the point of listing will be QR515,000,000.
QNB’s participation reflects its continued commitment to supporting Qatar’s economic growth and the development of its financial markets, while contributing to the country’s economic diversification.
