(MENAFN- The Peninsula) By Sachin Kumar | The Peninsula
Doha: The much-awaited initial public offering (IPO) of Baladna Food Industries, Qatar's largest producer of fresh dairy, is expected to hit the stock market in the last quarter of this year.
The company, which is playing a crucial role in making the country self-reliant in the production of milk and dairy products, is also planning to launch new products this year, including condensed milk, lactose-free milk, new juice flavours and cooking aids.
Baladna has also begun the export of long-life milk (UHT) to some countries and Libya is the next country in the list of the company to export milk. 'We have already started milk export to Afganistan, Yemen, Oman and very soon we will export to Libya, Saba Mohammed Nasser Al Fadala, Communications & PR Director, Baladna Food Industries, told The Peninsula. 'The quantity of export can be increased later as per the demand, she added.
The last quarter will be a good time for IPO as people come back to the country from theirsummer vacation. 'The IPO is happening this year, Maher Eldaly, Senior Marketing Director, said. The Qatar Stock Exchange has received approval from the Ministry of Commerce and Industry regarding the IPO, an official of the bourse had said in April.
Eldaly said Baladna is planning to launch condensed milk, also known as evaporated milk, by the year-end which will make it the only company in the country to produce this product.
The company is also planning to launch around four to five new flavours in addition to the existing juices being sold currently in the country.
Earlier this month, the company had launched a brand-new product line of six unique juices. In January, the company had launched the country's first long-life milk). As one of Qatar's leaders in dairy and beverage production, Baladna has been contributing towards Qatar's self-sufficiency goals by adopting an innovative line of products.
Currently, Baladna has nearly 20,000 dairy cows and supplies the market with all the necessary dairy products comprising of fresh milk, ayran, laban, yogurt, Arabic ghee and cheese. Last year, the company also established itself as the provider of 95 percent of Qatar's fresh milk demands.
MENAFN2605201900630000ID1098570665
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.