Qatar PR Network, Online Press Release from qatar and Doha city
Business, Banking and Investments(Banking & Investments)
Filter PR by
QInvest Successfully Closes Qatar's First Book Building Exercise for MEEZA's IPO
QInvest Successfully Closes Qatar's First Book Building Exercise for MEEZA's IPO

Sunday 07th of May, Doha, Qatar:  QInvest LLC, in its capacity as Listing Advisor and Offering Manager, has announced the successful closing of the first ever book building subscription in Qatar, for the initial public offering of MEEZA QSTP LLC on the Qatar Stock Exchange Main Market. 

The book building period successfully concluded on 6 March 2023, in line with previous announcements issued by QInvest LCC. The Order Book closed with the successful subscription of Qualified Investors above the minimum threshold of 30% of the offered shares as required by the Qatar Financial Markets Authority (QFMA). The book building subscription, totaling 37.41% of the total Offering, comprised of a group of seven institutional investors led by Qatar’s Sovereign Wealth Fund - Qatar Investment Authority (“QIA”) - as well as the civil and military pension funds which are managed by the General Retirement and Social Insurance (“GRSIA”), including General Authority for Minors Affairs (“GAMA”). Other investors were Qatar Insurance Company (“QIC”) and Doha Insurance Group (“DIG'), and an investor from the private sector Al Khor Holding (“AKH”). 

The balance of 62.59% of the Offering will be available for subscription by individuals and corporates after completion of the necessary regulatory filings. The Order Book was closed at a final offer price of QAR 2.17 per share . 

Commenting on the successful conclusion of the book building, Hussain Abdulla, Co-Chief Executive Officer of QInvest LLC, said: “QInvest is pleased to be contributing to the successful development of Qatari equity capital markets, by following the book building mechanism to transparently price and launch the public offering to individual and corporate investors. This development represents a step towards opening the door to international investors for future equity capital markets and IPO initiatives”.

Hussein Fakhreddine, Co-Chief Executive Officer of QInvest LLC, commented on the conclusion of the book building period, saying: “Final pricing of the shares driven by the investors themselves is a testament of the effectiveness of the book building mechanism to transparently price the IPO based on supply and demand, factoring in market conditions and orders received from Qualified Investors”.

The public offering to individual and corporate investors is expected to begin post Eid Al-Fitr during the first half of June 2023 (subject to the completion of the necessary regulatory filings), and will be comprised of 203,097,000 shares (62.59% of the Offering), at the offer price of QAR 2.17 concluded by the book building mechanism; further detailed announcements will be made in due course.

QInvest would like to take this opportunity to thank the relevant regulatory authorities, Qualified Investors, and MEEZA senior management for their support throughout the process, resulting in the successful conclusion of the first ever official book building exercise in Qatar. 

This announcement relates specifically to conclusion of Book Building Subscription Period for Qualified Investors in accordance with the book building mechanism issued by QFMA and the terms and conditions of the Application for the Irrevocable Commitment to Purchase Shares in the Company in accordance with the Book Building Mechanism. 

Posted by : Qatar and Doha City PR Network Editorial Team
Viewed 7680 times
PR Category : Banking & Investments
Posted on : Monday, May 8, 2023  10:07:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Ooredoo Group Appoints New Palestine CEO
Next Story : Qatar is well prepared for the Global Economic Slowdown: Cur...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Make Beauty Fun: Embrace Your Unique Charm and Creativity [3643-Views]
GEMS Students, Parents and Teachers Celebrate Another Year of Excellent A-level Results [2205-Views]
Aviation and Morocco Earthquake Relief Efforts [2003-Views]
Xiaomi Announces Global launch of Xiaomi 13T Series [1783-Views]
Own Your Magic! Elevate the Every Day to Magic with Spring/Summer Make-up by Catrice [1632-Views]
International Luxury Group Makes a Mark at the 42nd Hong Kong Watch & Clock Fair [1194-Views]
Ooredoo Named Strategic Partner for Expo 2023 Doha [1181-Views]
Parsons Wins $52M Public Works Authority Contract In Qatar [1098-Views]
Doha Festival City Unveils Back-To-School Collections [722-Views]
Ooredoo Group Joins the IoT World Alliance to Drive IoT Connectivity and Collaboration [672-Views]
WCM-Q's New Cohort of future Doctors Don White Coats for First Time [630-Views]
CMU-Q Officially Welcomes Class of 2027 [546-Views]
Dukhan Bank Announces Five Winners to Receive 100,000 DAwards each in 1st Draw of Credit Card Spend ... [533-Views]
Students Explore the Role of Physics in Medicine at Joint WCM-Q and TAMUQ Program [469-Views]
Carnegie Mellon Qatar Students Win Top Foodtech Idea for Printing Vegetables [445-Views]
Carnegie Mellon Qatar Welcomes Seven New Faculty Members [428-Views]
Qatar Sports Investments (QSI) and Damm reach historic agreement for acquisition of World Padel Tou... [427-Views]
QRDI Council Launches Three New Innovation Opportunities in Partnership with MATAR to Address Critic... [424-Views]
Qatar Airways Ramps Up Excitement for Expo 2023 Doha [414-Views]
Burgan Bank Issues Visa x-change Prepaid Card [404-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories