Doha, October 27 (QNA) - Dandy, a Qatari public shareholding company in the process of conversion, announced Tuesday the successful completion of the subscription period for its initial public offering (IPO), with subscription demand exceeding the size of the offering. The subscription period ran from October 7 to 20, 2026.

In a statement published on the Qatar Stock Exchange website, the company said the public offering comprised 28,840,000 shares, representing 70 percent of the offering, at an offer price of QAR 5 per share.

The amount payable by subscribers was QAR 5.01 per share, inclusive of offering and listing fees.

The institutional tranche, comprising 12,360,000 shares and representing 30 percent of the offering, was allocated to institutional investors following the book-building process.

The total offering amounted to 41,200,000 shares, with a total value of QAR 206 million.

The statement noted that the offering shares would be allocated in accordance with the rules governing the offering and listing of securities issued by the Qatar Financial Markets Authority (QFMA) and the terms set out in the offering prospectus.

Subscribers would be notified of the final allocation, and any surplus subscription funds, if applicable, would be refunded to their designated accounts in accordance with the approved timetable.

Following completion of the offering, the founding shareholders will retain 60 percent of the company's issued and fully paid-up capital, with their shares subject to the applicable lock-up requirements under QFMA rules. The company's free float will stand at 40 percent upon listing.

The company's shares are expected to begin trading on the Qatar Stock Exchange's main market in November, subject to completion of all necessary regulatory and technical requirements.

The trading commencement date will be announced by the Qatar Stock Exchange in the coming days. (QNA)