Baladna, which recently concluded its initial public offer, made a debut on Qatar Stock Exchange (QSE), yesterday.
DOHA, QATAR, December 19, 2019 /24-7PressRelease/ — Baladna’s shares were listed with the code “BLDN” and are traded in the consumers goods and services.
The listing was marked by an event which saw Rashid bin Ali Al Mansoori, CEO of the Qatar Stock Exchange; Baladna Chairman, Moutaz Al-Khayyat; Vice-Chairman Mohammad Al Sada and Baladna Managing Director and Board member Ramez Al-Khayyat, ringing the bell. The listing event was also attended by senior management from Baladna Food Industries and Power International Holding, strategic investors, and transaction advisors.
“This is an exciting day for Baladna and for Qatar. We are immensely proud of the response we have had from investors, which is a strong vote of confidence in both the market and our exciting future. We’re delighted to welcome Qatari citizens as investors and share in the company’s success as part-owners of Qatar’s fast-expanding fresh dairy and beverage industry,” Moutaz Al-Khayyat, Group Chairman of Baladna commented after the listing ceremony.
“We are proud to be the 47th company to be traded on the Qatar Stock Exchange, after the conclusion of a successful and oversubscribed IPO. We are now focused on delivering the results set out in our growth plans and maintaining our commitment to ensuring Qatar’s self-sufficiency in diary,” he added.
“The market’s response is positive. It’s free float today. The price fluctuation for Baladna will be allowed by 10 percent, up and down, as the case for all other listed companies, from tomorrow,” Rashid Al Mansoori told The Peninsula.
The company’s subscribers’ data have been available at the brokerage firms since Sunday, December 8, 2019, to allow investors to submit their buy/sell orders directly to the brokers.
The QSE CEO said the bourse’s performance was positive in 2019, in both in terms of revenue and listing. “There is growth in the exchange’s revenue. We see growing interests in market in terms of listing going forward. 2020 will be an exciting year.”
“The market may soon see one more listing, probably from the real estate sector,” Rashid bin Al Mansoori added.
Quoting Al Mansoori, QNA reported that there are companies operating in sectors such as health, industry and other sectors, which submitted files for listing on the stock exchange. Listing these companies needs time to complete the requirements for listing and organizational work related to it, stressing Qatar Exchange’s keenness to continue its promotional campaigns, either internally or externally, to introduce investors around the world to the Qatari financial market and the advantages of listing on the exchange.
Baladna was established on December 2nd, 2019 with an authorized capital of QR1.9bn, which is 100 percent paid in full.
Baladna is a trusted milk, dairy, juice and food brand in Qatar, Driven by excellence and the highest quality standards, Baladna is located north of the city of Doha and spreads over an area of 2.4 million sqm, with a capacity to house 24,000 cows. Baladna provides a comfortable and well-conditioned environment for the cows, allowing them to reach their production capacity comfortably.
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