QNB Group Confirms Final Allocation Of Shares Ahead Of Dandy IPO
With the final share allocations having been confirmed, Dandy will now proceed with the remaining stages of its IPO. Trading in Dandy's stock is expected to commence in November pending finalisation of its admittance to the exchange. Through the IPO, Dandy is making 40% of its equity available, with strong appetite already from institutional investors including insurers and private investment firms.
QNB Group acted as Lead Receiving Bank. Other receiving banks included Ahli Bank, AlRayan Bank, Commercial Bank, Doha Bank, Dukhan Bank, QIIB, and Qatar Islamic Bank. Maroon Capital Advisory acted as the Offering and Listing Advisor.
As many as 41,200,000 shares, priced at QR5.01 have been allocated in the IPO with the total size of the offering at QR206.41mn, including the offering and listing fees. Dandy's market capitalisation at the point of listing will be QR515mn.
QNB's participation reflects its continued commitment to supporting Qatar's economic growth and the development of its financial markets, while contributing to the country's economic diversification and sustainable development objectives in line with Qatar National Vision 2030.
QNB Group Dandy Ltd initial public offering equity
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