Posted on November 13, 2019

Baladna Q.P.S.C., a Qatari public shareholding company under incorporation (the “Company”), has announced the successful closure of the IPO Subscription Period.

The offering comprised of 1,425,750,000 new shares (the “Offer Shares”) representing 75% of the share capital of the Company. The IPO Subscription Period, which ran from 27 October 2019, until close of business today on 7 November 2019, witnessed high demand from investors, with the Offer Shares being oversubscribed. 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. It is proposed that allotment of Offer Shares and refunds of excess application amounts, if any, will occur by 21 November 2019.  Share trading on the Qatar Stock Exchange is expected to commence in mid-December 2019.

Dr. Kamel Abdallah, Chief Executive Officer of Baladna Q.P.S.C, commented: “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 Q.P.S.C becoming a listed company.”

At the time of this statement, the Company remains under incorporation. The incorporation will be completed following the meeting of the Constitutive General Assembly (the “CGA”) and issuance by the MOCI of the commercial registration of the Company. This meeting will take place on 26 November 2019.