Qatari dairy company Baladna Food Industries to raise US$392m in IPO

QATAR – Baladna Food Industries, Qatar’s largest dairy and beverage company will launch an initial public offering  (IPO) this month, that could raise 1.426 billion riyals (US$392 million). In the IPO, the company plans to sell 75% of its share capital on the Qatar Stock Exchange, whose proceeds will be used to strengthen the company’s balance sheet, reports Reuters. According to a statement issued by the company, strategic investors including the General Retirement and Social Insurance Authority and local food companies have committed to buying 23%, while the Qatari public…

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