DOHA: Baladna Food Industries, Qatar’s largest fresh dairy producer, is set to launch initial public offering (IPO) in the fourth quarter of this year, a company official has said.
Baladna Senior Marketing Director Maher Eldaly said the company has completed all formalities to launch the IPO after the summer vacation. “Once the summer holidays are over, we will look for a suitable date to launch the IPO. It will be done this year and most probably in the fourth quarter of the current fiscal year,” he said.
“We have shown the world how a brand can be established within a short span of two years. Today, Baladna is a phenomenal success. We are working to emulate the same success once the IPO is floated,” Eldaly added.
Baladna will be the first company to be listed on Qatar Stock Eschange in 2019.
The company has started exporting dairy products to international markets after achieving 100 percent success in meeting local demand.