Doha [Qatar], October 30: QNB Group, a leading financial institution in the Middle East and Africa, has announced the successful allocation of all shares subscribed in the initial public offering (IPO) of Dandy Ltd Company (Dandy), marking a key milestone in the company's planned listing on the Qatar Stock Exchange (QSE).
With the final share allocations confirmed, Dandy will now proceed with the remaining stages of the IPO process. Trading in the company's shares is expected to commence in November, subject to the finalisation of its admission to the exchange.
Through the IPO, Dandy is offering 40 percent of its equity to investors, reflecting its move to broaden its ownership base and access Qatar's capital markets. The offering has attracted strong interest from institutional investors, including insurance companies and private investment firms, according to QNB Group.
A total of 41.2 million shares have been allocated at a price of QR5.01 per share. The total offering size amounts to QR206.412 million, inclusive of offering and listing fees. Following its listing, Dandy is expected to have a market capitalisation of QR515 million.
QNB Group acted as the lead receiving bank for the offering, with Ahli Bank, AlRayan Bank, The Commercial Bank, Doha Bank, Dukhan Bank, Qatar International Islamic Bank and Qatar Islamic Bank also serving as receiving banks. Maroon Capital Advisory acted as the offering and listing advisor.
The completion of the share allocation represents an important step in Dandy's transition to a publicly listed company and adds to the range of investment opportunities available in Qatar's capital market. The listing will allow investors to participate in the company's equity through the stock exchange once trading begins.
QNB Group's role in the IPO also highlights the banking sector's contribution to the development of Qatar's financial markets by supporting companies seeking to raise capital through public offerings. A broader investor base and increased participation in the capital market are among the mechanisms through which such transactions can support private-sector growth and strengthen the country's investment ecosystem.
QNB said its participation in the offering reflects its continued commitment to supporting Qatar's economic growth, the development of its financial markets and the country's economic diversification and sustainable development objectives under Qatar National Vision 2030.
The expected November listing remains subject to the completion of the remaining admission procedures, after which Dandy's shares will be available for trading on the exchange.
Source: Qatar Tribune
