Qatar: MEEZA to offer its shares through IPO

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Doha, Qatar: MEEZA QSTP LLC (Public) (“MEEZA”, the “Company” or “we”), the leading managed IT and data center service provider in the State of Qatar (the “State”), is pleased to announce that it has obtained the required regulatory approvals of the Qatar Financial Market Authority (“QFMA”) and the Qatar Stock Exchange (“QSE”) to offer 324,490,000 ordinary fully paid-up shares (the “Offer Shares”) by way of initial public offering (the “Offering”), followed by a listing of all of the Company’s Shares on the QSEMM.

Before deciding to invest in the Shares, investors should consult the Offering Prospectus approved by the QFMA which is available at the Company’s website at www.meeza.net/ipo and the Listing Advisor and Offering Manager website at www.qinvest.com/media-center/press-release. The approval of the QFMA of the Offering Prospectus shall not be considered to be an approval of the Company’s financial and economic viability or of the related evaluation outcomes.

The proposed offering of securities to which this announcement relates is open in Qatar only to individual Qatari nationals and legal entities incorporated in Qatar.

MEEZA is a leading end-to-end IT services provider within Qatar, including data center and colocation services. The share capital of MEEZA is QR648,980,000, divided into 648,980,000 Shares of QR1 each. 50% of the Shares, equivalent to 324,490,000 Shares, are being offered at an Offer Price of QR2.17 per Offer Share, making the total size of the Offering QR700,898,400 (excluding the offering costs of QR0.01 per Share)

The Offer Price of the Shares comprising the share capital was determined by Qualified Investors in Qatar through the first Book Building process ever pursued to price an Initial Public Offering on the Qatar Stock Exchange. The Company offered the Offer Shares to a set of Qualified Investors during a Book Building Subscription Period that commenced on 15 January 2023 and concluded on 6 March 2023

37.41% of the Offer Shares (constituting 121,393,000 Shares) were successfully allocated to Qualified Investors through a bidding process detailed in the “Details of the Offering” section of this announcement.

Offer Price includes the nominal value of QR1 per Share, a premium of QR1.16, and offering and listing fees of QR0.01 per Share. 62.59% of the Offer Shares (constituting 203,097,000 Shares) are currently being offered to eligible investors, including Qatari citizens and legal entities incorporated in Qatar in accordance with the QSE Rulebook, QFMA Offering and Listing Rules and the Articles of Association of MEEZA (the “Individual and Corporate Investors”), at the Offer Price.

The Offer Period to subscribe to the IPO will be open from 6 June 2023 to 19 June 2023 (subject to any additional extension). MEEZA’s Founders are strongly committed to MEEZA’s future success and will be retaining at least 50% shareholding in the Company post-IPO. QInvest LLC is acting as Listing Advisor and Offering Manager