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FinancialNews
03-11-19
Baladna announces proportion of 23 percent shares to strategic investors
(MENAFN) The largest dairy producer in Qatar, Baladna Food Industries (BFI), which went public on October 27, announced yesterday that the Strategic Shares of its Initial Public offering (IPO), comprising 437.2 million of the Offer Shares, equivalent to 23 percent of the entire share capital of the Company, have been allocated to its strategic investors.
The company said a total of 190,100,000 shares (10 percentages shareholding) have been allocated to General Retirement and Social Insurance Authority (GRSIA). While 95,050,000 shares (5 percentages) were allocated to Hassad Food Company (Private), a total of 76,040,000 or 4 percentages have been allocated to Al Meera Consumer Goods. Mwani Qatar and Widam Food Company were allocated 38,020,000 shares each (2 percent).
Leading Qatari institutions have made these commitments, some of which are public entities, reflecting significant confidence in the Company and its importance to Qatar"s economy and food security.
The Strategic Investors represent the length of the food security value chain, from international investments to ports and logistics, the import and processing of meats, and finally supermarket stores.
MENAFN0311201900450000ID1099213957
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