Qatar's Investment Holding Group launches initial public offering

IHG is the first Qatari family company to have been approved for listing in the Qatari stock market through an IPO

  
Image for illustrative purpose only. Investors watch prices on the floor of the Doha Stock Exchange in Doha, Qatar February 20, 2006.

Image for illustrative purpose only. Investors watch prices on the floor of the Doha Stock Exchange in Doha, Qatar February 20, 2006.

REUTERS/Fadi AL-Assaad
09 January 2017
The Investment Holding Group (IHG) officially announced the pricing of its IPO on the Qatar Stock Exchange (QSE). Subscription Applications can now be submitted by individual Qatari citizens, Qatari companies registered in the State of Qatar, or companies incorporated in Qatar and listed on the QSE  through branches of the Commercial Bank, which are now ready to receive offers.

IHG is the first Qatari family company to have been approved for listing in the Qatari stock market through an IPO.

The Offer Period will be for two weeks, between 8th-22nd of January, and during each of the ten Receiving Bank’s business hours, from 8am - 1pm Doha local time. The Company's issued share capital was QR830m. The Qatar Financial Markets Authority (QFMA) agreed that 60 percent 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 percent Qatari ownership or listed on the QSE. The nominal value of a share is QR10, 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. QR 10.1 shall be paid for each share).

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 following the application process will be entitled to a minimum individual allocation of 1million Offer Shares.  Additional batches of 100,000 can be purchased over this minimum level.

Paid amounts for unallocated shares can be redeemed no later than two weeks from the Closing Date and without any interests or profits paid.

© The Peninsula 2017

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