Qatari Company Dandy Completes Initial Public Offering

Dandy, a Qatari public shareholding company, has completed its initial public offering, with subscription demand exceeding the offering size, Qatar's state news agency QNA reported on Wednesday. 

The offering consisted of 41.2 million shares, with 28.84 million shares available to the public at QAR 5 per share and 12.36 million shares allocated to institutional investors.

The total value of the offering was QAR 206 million, with subscribers paying QAR 5.01 per share, including fees.

The company's shares are expected to start trading on the Qatar Stock Exchange's main market in November, pending regulatory and technical requirements.

The founding shareholders will retain 60% of the company's capital, with a 40% free float upon listing.

Dandy's initial public offering is a significant development in Qatar's financial market, reflecting the country's efforts to deepen its capital market and provide more investment opportunities.

The Qatar Stock Exchange has been working to attract more listings and increase liquidity in recent years, with several high-profile companies going public in the past few years.

The successful completion of Dandy's IPO paves the way for the company's listing on the Qatar Stock Exchange, which is expected to enhance transparency and governance.

Investors will be watching the company's performance closely, as it is seen as a bellwether for the Qatari economy.