Dandy begins book-building for QSE entry

“Dandy Ltd Company has kicked off a book-building process for a 40% stake sale and a planned listing on the Main Market of the Qatar Stock Exchange (QSE), after obtaining approval from the Qatar Financial Markets Authority (QFMA). The company, which has produced dairy, beverage and ice cream products in Qatar for more than 45 years, is looking to price the offer shares between QR5.00 and QR5.20 each, excluding offering and listing fees, according to an institutional announcement on the Dandy website. Dandy’s issued and fully paid-up share capital is QR103mn, divided into 103mn ordinary shares at a nominal value of QR1.00 each, the website stated. The offering is structured in two phases, according to the QSE. Under the first phase, 12.36mn shares representing 30% of the offer will go to institutional investors through book-building. The remaining 28.84mn shares, or 70% of the offer, will be sold to Qatari nationals and Qatar-registered entities at the price determined through book building. Dandy stated that eligible participants in the public subscription include individual Qatari nationals and legal entities holding a valid commercial registration certificate in Qatar, as well as other categories permitted under the applicable rules. The selling price, according to Dandy, will be the book-built figure plus QR0.01 per share in offering and listing fees. Maroon Capital Advisory is the appointed offering and listing adviser, it noted. Participation in the book-building process is confined to QFMA-approved institutional investors and is open by private invitation only through the offering and listing adviser, Dandy stated. The QSE stated that the offering is being conducted under QFMA Board Decision No (8) of 2025 on Offering, Listing, Mergers and Acquisitions Rules, as part of efforts to draw more companies to the capital market. The QSE also noted that the listing reflects collaboration between the QFMA and the exchange to develop the market’s regulatory framework and expand options for companies seeking to list. The bourse explained that the book-building mechanism is used across global and regional markets to allow institutional investors, who have the expertise and tools for fair security pricing, to set the offer price.

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