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QNB Group announced the final allocation of shares subscribed in the initial public offering of Dandy Ltd Company with the process now complete ahead of the firm’s planned listing. The bank serving as lead receiving bank for the transaction confirmed that allocations covered the full 41.2 million shares offered at 5.01 riyals each including fees for a total transaction size of 206.412 million riyals. A statement from the group indicated that the IPO attracted significant interest from both institutional and local retail participants during the subscription window that closed on October 20. The development marks the conclusion of the offering phase for the Qatari dairy and food products firm which is converting into a public shareholding company.
The institutional tranche comprising 12.36 million shares or 30 percent of the offering was allocated to 19 investors following an oversubscribed book-building process that established the final offer price at five riyals per share. Qatar News Agency reported that the public tranche of 28.84 million shares representing 70 percent of the offering also saw demand surpass availability among eligible Qatari individuals and corporate entities. QNB Group said the allocations adhered to Qatar Financial Markets Authority rules and the detailed terms set out in the prospectus. Refunds for any surplus subscription amounts are scheduled to reach designated accounts by early November according to the approved timetable.
Seven additional local banks joined QNB Group as receiving banks to facilitate the public subscription process through both branch and electronic channels. Dandy had earlier stated that the book-building phase drew robust participation which helped determine the pricing within the indicated range. The company will retain a 40 percent free float upon listing while founders hold the remaining 60 percent subject to regulatory lock-up requirements. Admission procedures are now advancing toward a trading debut in November 2026.
Dandy operates as one of Qatar’s established names in dairy beverages and ice cream with a history spanning more than 45 years in the local market. The IPO assigns the company a post-listing market capitalisation of 515 million riyals based on the offer pricing and total share structure. Earlier announcements from the firm highlighted the successful completion of the institutional phase before opening the retail offering to local investors. The transaction aligns with broader efforts to expand the investor base for domestic consumer-focused businesses on the Qatar Stock Exchange.
QNB Group has supported multiple IPOs in the Qatari market often serving as the primary receiving bank to streamline electronic and in-person subscriptions for retail participants. Comparable food-sector listings in recent years have similarly recorded oversubscription reflecting sustained local demand for shares in established national companies. The Qatar Stock Exchange has continued to attract new listings as part of initiatives to deepen capital market activity and increase free float across listed entities. Data from past offerings show that consumer staples firms frequently generate high participation rates during public subscription periods.
Priority allocation in the public tranche went first to individual Qatari investors followed by corporate applicants with pro-rata distribution applied where oversubscription occurred. Eligible subscribers were limited to a minimum application of 200 shares in multiples of 50 up to a maximum of 5.15 million shares per investor. All payments were processed via direct debit from nominated accounts at the receiving banks with no cash cheques or transfers accepted. The structure reserved the public portion exclusively for Qatari nationals and locally incorporated entities holding valid commercial registrations.
