The following questions and answers provide the most important information relating to the IPO, which is valued at 60% of IHG’s capital:
1. How many shares are being offered?
On the date of the Prospectus and directly prior to the Offering, the Company's issued share capital was QAR 830,000,000. The Qatar Financial Markets Authority (QFMA)agreed that 60% of IHG’s capital could be offered and divided into 49,800,000 ordinary shares. These will be available for purchase by Qatari citizens and Qatari companies or institutions under 100% Qatari ownership or listed on the Qatar Stock Exchange.
2. What is the value of each share?
The nominal value of a share is QAR (10), to be fully paid upon Subscription, plus 1% of the nominal value of each share for the Offering, Listing Costs and other fees, which are to be paid as a lump sum; (i.e. QAR 10.1 shall be paid for each share).
3. When will the shares be available for purchase?
The Offer Period will be for two weeks, between 8TH of January 2017 to the 22nd of January 2017, and during each of the ten Receiving Bank’s business hours, from 8:00am - 1:00 p.m. Doha local time.
4. How will the shares be offered?
The Shares Offering is limited to one Public Offering divided into the two following categories:
(a) Individual Investors and Institutional Investors: The Offering of 24,900,000 shares (representing 30% of the total shares) shall be limited to Qatari nationals, Qatari companies registered in Qatar or legal entities incorporated in Qatar and listed on the Qatar Stock Exchange, as per the Offering’s Terms and Conditions stated in the Prospectus.
(b) Cornerstone Investors: The Offering of 24,900,000 shares (representing 30% of the total shares) is limited to Cornerstone Investors as per the Offering's Terms and Conditions stated in the Prospectus. Cornerstone Investors include: (1) Qatari companies registered in Qatar, (2) legal entities incorporated in Qatar and listed on the Qatar Stock Exchange, or (3) government entities that apply for Subscription of a minimum of 1,000,000 shares.
5. For individuals and companies, what are the conditions for purchasing shares?
All those intending to subscribe should first read and understand the Terms and Conditions included in the Prospectus which was approved by the QFMA. Subscription Applications can be submitted to any of the participating bank branches.
A Subscription Application shall only be accepted when the following documents are enclosed:
· Original valid Qatari identity card.
· Copy of identity card stating the necessary details (ID number, name, date of birth, date of issue and expiry date)
· Debit application form, bank cheques or bank transfer of the value of shares contained in the Subscription Application Form in Qatari Riyals, without any increase or decrease in the value of the shares applied for, plus the Offering and Listing Costs, to be withdrawn from an accredited bank in Qatar.
· If the application is not submitted by the subscriber in person, a valid personal identity card of the authorized person should be provided, along with a copy of the subscriber's personal identity card showing his details.
· In case of Minors, the applicant shall submit the personal identity card or birth certificate of the Minor, stating the personal identification number and the identity card of the guardian.
· In case of attorneys, the duly notarized original power of attorney, identity card of the subscriber along with the attorney's identity card copy should be submitted.
· In the case of those who lack the necessary legal status or those subject to legal measures, the original court judgment and a copy of attorney's ID card should be submitted.
· Original identity cards shall be returned after verification process.
· Valid commercial registration of the company, along with the identity card of the company's authorized signatory should be submitted.
· Application Form should be submitted in person by the company's authorized signatory.
· If the Application Form is not submitted by the company's authorized signatory in person, a certified power of attorney issued by the company authorizing the attorney to submit the same, along with a copy of the attorney's identity card should then be submitted.
6. In what circumstances could purchase requests be rejected?
The Application Form may be wholly or partially rejected. The number of shares applied for may be decreased at the discretion of the Board of Directors in the following cases:
· If the subscriber fails to pay the value of subscribed shares immediately upon submitting the Application Form, or if the payment is through a cheque or a withdrawal order that cannot be cashed from the drawee account once submitted for the first time for any reason whatsoever.
· If the Board of Directors finds that the applicant has not fulfilled the Terms and Conditions of the Subscription set forth in the Prospectus or this Invitation.
· If the subscriber submits more than one Application Form, only the first Application Form will be accepted and considered.
· If the applicant's Subscription falls under the permitted minimum amount.
· If the details stated in the Application Form are unclear, incorrect, not in line with the details of the identity card, not supported by the requisite documents, or rejected by the Qatar Stock Exchange.
· If the Company's Board of Directors finds afterwards or at any time that the subscriber has taken any illegal actions or procedures in order to acquire the shares.
7. For individuals and companies, what is the minimum number of shares that can be purchased?
Any Individual or Institutional Investor correctly following the application process is entitled to a minimum individual allocation of 500 Offer Shares, as stipulated by the QFMA. Additional batches of 100 shares can be purchased over this minimum level.
Each Cornerstone Investor correctly following the application process will be entitled to a minimum individual allocation of 1,000,000 Offer Shares. Additional batches of 100,000 shares can be purchased over this minimum level.
If there is an increase in the number of shares subscribed to by Individual Investors and Institutional Investors, so as to exceed 24,900,000 shares (representing 30% of the total shares), and a decrease in the number of shares subscribed to by Cornerstone Investors (any request less than 24,900,000 shares), the Company reserves the right to allocate the difference to cover the increase in the Subscription by Individual Investors and Institutional Investors.
8. Can paid sums for unallocated shares be reimbursed?
Paid amounts for unallocated shares can be redeemed no later than two weeks from the Closing Date and without any interests or profits paid.
9. What are the details of bank involved in the IPO?
All preparations related to receiving Subscription Offers are complete and ready to receive applications from individual Qatari citizens, Qatari companies registered in the State of Qatar or companies incorporated in Qatar and listed on the Qatari Stock Exchange through the following branches of the Commercial Bank:
- Airport (Al-Hilal) Branch
- Commercial Bank Plaza Main Branch
- Al Rayyan Branch
- Dar Al Salam Mall Branch
- Medina Centrale Branch
- Al Khor Branch
- Al Messila Branch
- Al Wakrah Avenue Branch
- Gulf Mall Branch
- The Pearl - I (Porto Arabia) Branch
All those intending to subscribe to this offer should carefully read the Prospectus which was approved by the Qatar Financial Markets Authority, and Ministry of Economy and Commerce, including the Terms and Conditions for Subscription. This can be found by downloading the Prospectus page, available on IHG’s website: www.ihgqatar.com
The Commercial Bank of Qatar can be contacted through its offices at Plaza Mall, Floor#18, West Bay, and through the website: www.cbq.qa and the following contacts: 44495444
For more information and media queries, please contact IHG media office:
Hanane Rougani – Media Relation Manager
Mobile: 00974 55275116
Mohammed Jaradat – Media Relation Manager
Mobile: 00966 540073079
© Press Release 2017