Mubasher: Power International Holding on Monday said that its subsidiary, Baladna, has already announced plans make an initial public offering (IPO) on the Qatar Stock Exchange (QSE).
The food producing firm seeks listing its shares on the Qatari bourse by March 2019, Moataz Al Khayat, vice chairman and Group CEO of Power Holding, said.
“To improve the market liquidity we are doing IPOs, introducing new products and working with regulators to make the environment more encouraging for foreign investors,” Rashid bin Ali Al Mansoori, CEO of QSE, said previously.
Al Khayat added that the company will open three factories in January 2019, doubling its output to 490 tonnes per day.
Baladna also signed contracts with strategic distributors in Kuwait and Oman to distribute its dairy products starting as of the first half of 2019.
