Doha, August 03 (QNA) - Dandy, one of Qatar's leading companies in the dairy and food products sector, announced the successful completion of the book-building process, as part of the preparatory steps for the public offering of its shares and listing on Qatar Stock Exchange (QSE).

Following strong demand from institutional investors during the book-building process, 19 institutional investors participated and the offering was oversubscribed. The offer price has been set at QR 5 per share, reflecting investor demand and the outcome of the bookbuilding process conducted in accordance with the applicable regulatory requirements.

The book-building mechanism is a structured process for determining the offer price based on demand from institutional investors and their assessment of the company. Through this process, institutional investors review the company's financial fundamentals, financial position, growth prospects, and market potential before submitting their offers.

This mechanism contributes to enhancing the transparency of the pricing process by linking the offer price to the assessment of specialized institutional investors and market dynamics, thereby reinforcing the credibility of the price and investor confidence ahead of the IPO phase.

Dandy has also received a No-Objection Letter from the Qatar Financial Markets Authority in relation to the completion of the company's IPO and listing process, marking an important milestone in the company's journey towards converting into a Qatari public shareholding company and listing its shares on QSE.

The company continues to complete the remaining regulatory and procedural requirements, in preparation for the launch of the public subscription phase, which will be announced at a later stage following receipt of the required regulatory approvals. (QNA)