QNB Group confirms final allocation of shares ahead of Dandy IPO

Doha, Qatar - QNB Group, a prominent financial institution in the Middle East and Africa, has confirmed that all subscribed shares in the Initial Public Offering (IPO) for Dandy Ltd Company have been allocated. This marks a significant step forward for Dandy as it proceeds with the subsequent stages of its IPO. The planned stock market launch is anticipated to begin in November, contingent upon the final approval from the exchange.

The IPO is set to offer 40 percent of Dandy's total equity. The shares, priced at QR5.01 each, include a total allocation of 41,200,000 shares, amounting to a total offering value of QR206,412,000. This sum encompasses both the IPO allocation and associated listing fees. Post listing, Dandy's market capitalization is projected to reach QR515,000,000.

QNB Group served as the Lead Receiving Bank for this IPO. Other receiving banks participating in the process comprise Ahli Bank, AlRayan Bank, The Commercial Bank, Doha Bank, Dukhan Bank, Qatar International Islamic Bank, and Qatar Islamic Bank. Furthermore, Maroon Capital Advisory LLC served as the Offering and Listing Advisor.

This allocation underscores QNB Group's ongoing dedication to Qatar's economic expansion and the advancement of its financial markets, simultaneously contributing to the nation's broader economic diversification efforts.