Company That Airlifted Cows to Break Saudi-led Boycott Plans IPO - Bloomberg:
Two years after flying cows to Qatar to overcome a trade boycott against the desert state, Baladna Food Industries seeks to raise about 1.4 billion Qatari riyals ($382 million) in an initial public offering.
The subscription period will last from Oct. 27 to Nov. 7, with the first day of trading on Dec. 11, the food and beverage business said Thursday in a statement. The listing will allow Qataris to participate in the company’s growth, board member Ramez Al-Khayyat said at a news conference in the capital Doha.
Baladna’s founders will retain 25% of the shares. Strategic investors including the General Retirement and Social Insurance Authority and local food companies have committed to buying 23%, while the Qatari public will have access to the remaining 52%, according to the statement.
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