The largest dairy company in Qatar .. "Baladna" seeks to raise $ 392 million in an initial public offering

Qatar's largest dairy company, Baladna, said on Thursday it plans to launch an initial public offering later this month that could raise 1.426 billion riyals ($ 392 million) by selling 75 percent of the capital on the local bourse.

The IPO will start on October 27 and close on November 7, the company said in a statement.

The Qatar Financial Markets Authority (QFMA) has agreed to put the shares of Baladna for subscription after completing all legal requirements.

Our country started its operations in Qatar in 2012, the largest Qatari dairy and beverage company, and its herd grew to nearly 18,000 head of cattle in two farms on a total area of ​​more than 2 million square meters, with a capacity of 24,000 cows.

Baladna, one of the largest cattle companies in the region, found itself facing a major challenge as the blockade imposed on the country began in June 2017, but it was able to achieve a big dairy boom and reached self-sufficiency with a market share of 94 %.

Not only that, but it has recently opened export routes to a number of Asian countries, led by Oman, Yemen, Afghanistan and Indonesia.

The success of our country in the face of the crisis that struck Qatar in the early days of the blockade, has given it a great reputation internally and externally, which allowed it to obtain the approval of the Qatar Financial Markets Authority to list its shares on the stock exchange.

In addition to the IPO of our country, the exchange is awaiting the addition of the IPO of Al Rayan Water and Pharma Pharmaceuticals, and the prospects of listing two ETFs, one local, a gold fund, and the other an Islamic Global Index Fund with a British market partner.