Qatari nationals can look forward to receiving 65% financing for purchasing shares of BALADNA
Delivering on its commitment to catering to the varying needs of its customers, Doha Bank, one of the largest private commercial banks in Qatar, has announced the launch of a financing facility for Qatari nationals to subscribe to Baladna Food Industries’ (BFI) initial public offering (IPO).
As one of the receiving banks for the forthcoming IPO subscription, Doha Bank will offer up to 65% finance to all Qataris and their first degree relatives (Spouse, Father, Mother, and Children) who would like to invest in Baladna Company.
The IPO will be open for subscriptions from 27th October to 7th November 2019. Doha Bank’s existing customers and non-customers as well as Corporate Companies with valid CR can subscribe through the exclusive IPO Centre located on the first floor of Doha Bank Head Office Tower on Corniche Street or any of the bank’s branches in the country. For IPO financing, customers can apply through branches only until 5th November 2019.
Commenting on the launch of the finance scheme, Dr. R. Seetharaman, Group CEO of Doha Bank, said: “With its rapid growth since the imposition of a blockade on Qatar by its neighbors, Baladna has helped the country achieve self-sufficiency in dairy products driving forward the Qatar National Food Security Program. As the company is set to launch an initial public offering, Doha Bank is honored to help Qataris to be a part of this tremendously successful story by extending financial support for the subscription of the company’s shares. This finance product represents our commitment to connecting our customers to their passions and helping realize their financial goals.”
Subscribers can purchase a minimum of 500 shares and a maximum of 475,250,000 shares at a nominal value QAR 1.00 per offered share and an issuance fee of QAR 0.01 per offered share. Doha Bank will offer finance on a minimum purchase of 5,000 shares per customer.
Doha Bank will not charge interest on the amounts owed by the borrower to the bank as of the date of the loan and up to the date of allotment of shares and refunding of the redundant subscription amounts.