QIIB has announced the financing of subscriptions to the initial public offering (IPO) of Baladna.
The bank will finance 65% of the total value of shares that the existing and new Qatari customers wish to purchase, said QIIB deputy chief executive Jamal Abdullah al-Jamal (pictured).
QIIB has made all the required logistic arrangements to help subscribers in the 15 branches that are participating in the IPO subscription process.
Baladna, the proposed holding entity of Qatar’s dominant dairy farm, is aiming to raise as much as QR1.43bn by offering 75% equity stake to public through an IPO which will be in the market from October 26 to November 7.
“The subscription to Baladna is of great importance given the company’s relevance to our country’s food security,” al-Jamal said, adding the local diary major has proved to be a qualitative addition to the Qatari economy.
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