Qatar-based food and beverage producer Dandy has revealed the pricing framework for its upcoming initial public offering, setting an indicative range of QAR 5.00 to QAR 5.20 per share, valuing the company at up to QAR 536 million.
Investors participating in the offering will pay the final price determined through the bookbuilding process, along with an additional QAR 0.01 per share to cover offering and listing charges.
The IPO consists of 41.2 million shares, representing 40% of Dandy’s total issued share capital. The company plans to split the sale between institutional and retail investors, with 30% of the shares reserved for institutional buyers during the bookbuilding phase and the remaining 70% earmarked for a public subscription.
Maroon Capital Advisory has been appointed to oversee the transaction as offering and listing adviser.
At the upper end of the indicated range, the share sale could generate approximately QAR 214 million (around $58.6 million) before expenses. The proposed valuation places Dandy among the notable mid-sized listings on the Qatar Stock Exchange’s main market.
Known for its portfolio spanning dairy products, beverages and ice cream, Dandy is seeking to tap investor appetite as activity in Gulf capital markets continues to attract both institutional and retail participation.
