(MENAFN - The Peninsula) The Peninsula
DOHA: Doha Bank is offering up to 65 percent finance to all Qataris and eligible Qatari members of the family subscribing to shares in Qamco initial public offering (IPO).
The IPO opened for subscriptions on October 30, 2018, and will continue until November 12, 2018. Subscribers can seek up to 65 percent finance for the subscription amount from Doha Bank until November 11, and it is subject to the bank's terms and conditions.
The IPO is only open within Qatar to Qatari nationals and selected Qatari institutions. In addition, adult family members and legal guardians can apply to subscribe for shares on behalf of their children and minors.
Doha Bank is one of the receiving banks for the IPO and will receive subscriptions from both existing customers and non-customers at all of its branches in Qatar.
The IPO Qamco is an opportunity to enter a very important segment of Qatar's market. Doha Bank will be supporting the aspirations of our people to participate in this IPO, including not just the investors of today but also future generations, by providing a full range of IPO finance options for all adult Qatari investors as well as minors through their nominated guardians or legal representatives as per the eligibility and terms and conditions of the IPO prospectus.
Doha Bank Group CEO, Dr. R. Seetharaman said: 'The intrinsic strength of Qatar's Aluminum sector, in which Qatar Petroleum and Hydro Aluminum of Norway are major players and expert leaders in thisdynamic field, and the global spotlight in which Qatar's booming Aluminums sector thrives, encourage us in Doha Bank to support all projects in this vital and distinct sector.
'Doha Bank has already recorded significant interest in the IPO and supported by strong financial support, the Bank expects more subscribers to come in through the doors before the end of the subscription period. We give high importance to provide the easiest and highest-level services for our customer, accordingly we have provided a dedicated staff and resources in anticipation of continuing demand across the Doha Bank domestic network, supporting both the subscription application process and staff to advise on financial solutions.
The total shares is 273,425,880 ordinary shares. While the price per share is QR10 fully paid and listing costs of QR0.10 per share (total of QR10 per share). The subscription must be minimum of 50 shares and maximum 11,160,240 shares.
The offering represents 49 percent of the issued share capital of the company, however only one subscription application will be accepted per person and no fractional shares will be allocated.