IT services firm to be #Qatar's first to use book building for IPO | Reuters

IT services firm to be Qatar's first to use book building for IPO | Reuters

Qatari IT services firm MEEZA will be the first company in the country to use book building to carry out an initial public offering, it said in a statement on Sunday, as Qatar aligns itself with international practices.

The company, part-owned by telecom operator Ooredoo (ORDS.QA), said it is selling 50% of its share capital in a public-share sale with a planned listing on the Qatar Stock Exchange.

The IPO process, which begins this month, will allow the company to offer a price range to test investors’ appetite and determine the IPO price.

The offering's price range is between 2.61 riyals ($0.7135) to 2.81 riyals per share, which could raise between 846 million and 911 million riyals.