Baladna Announces Initial Public Offering

Baladna Food Industries, a subsidiary of Power International Holding, announced on October 17, 2019 to raise about QR1.42bn ($382m) in an initial public offering (IPO)

DOHA, QATAR, November 01, 2019 /24-7PressRelease/ -- Baladna Food Industries, a subsidiary of Power International Holding, announced on October 17, 2019 to raise about QR1.42bn ($382m) in an initial public offering (IPO) of 1,425,750,000 new shares (the Offer Shares) on the Qatar Stock Exchange, representing 75 percent of the share capital of the Company.

The subscription period for the IPO will last from October 27 to November 7, with the first day of trading at QSE expected on December 11, 2019.

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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