Qatari dairy and beverage maker Dandy said on Tuesday that subscription demand in its initial public offering exceeded the size of the offer, which totaled 41.2 million shares worth QR206 million.
The company, a Qatari public shareholding company in the process of conversion, made the announcement in a statement published on the Qatar Stock Exchange website, the Qatar News Agency reported. It did not give a coverage multiple.
The retail subscription period ran from October 7 to 20, 2026.
The public tranche comprised 28.84 million shares, or 70% of the offering, at an offer price of QR5 per share. Subscribers paid QR5.01 per share including offering and listing fees.
The institutional tranche of 12.36 million shares, or 30% of the offering, was allocated to institutional investors after a book-building process.
Dandy had set an indicative range of QR5.00 to QR5.20 per share when it announced the book-building in June.
The founding shareholders will keep 60% of the company’s issued capital after the offering, subject to lock-up rules set by the Qatar Financial Markets Authority. The free float will be 40% on listing.
Dandy said investors would be notified of final allocations and any surplus subscription funds would be refunded under the approved timetable.
The shares are expected to begin trading on the Qatar Stock Exchange’s main market in November, subject to regulatory and technical requirements. The exchange will announce the first trading date in the coming days.
Dandy makes and distributes dairy, beverage and ice cream products and has operated in Qatar for more than 45 years.
