Meeza QSTP announced that it has obtained the approval of the Qatar Financial Markets Authority and the Qatar Stock Exchange to offer 324,490,000 fully paid ordinary shares (the “offer shares”) through an initial offering of shares (the “offer”), followed by the listing of all the company’s shares in the main market of the Qatar Stock Exchange.
The company said in a statement that the offering is available in Qatar only to Qatari citizens, both individuals and legal entities established in Qatar.
The capital of MEEZA is 648,980,000 riyals, divided into 648,980,000 shares, with a value of 1 riyal for each share.
50% of the shares, equivalent to 324,490,000 shares, will be offered at an offering price of QR 2.17 per share, making the total offer size 700,898,400 riyals (excluding the offering fee of QR 0.01 per share). .
The offer price for the shares comprising the capital was determined by qualified investors in Qatar through the first price building process followed to price the IPO on the Qatar Stock Exchange.
The company offered the offer shares to a group of qualified investors during the price building subscription period, which began on January 15, 2023 and ended on March 6, 2023.
37.41% of the Offer Shares (constituting 121,393,000 Shares) were successfully allotted to Qualified Investors through a price building process.
The offering price includes a nominal value of 1.00 riyals per share, a premium of 1.16 riyals, and offering and listing fees of 0.01 riyals per share.
62.59% of the Offer Shares (which constitutes 203,097,000 Shares) are currently being offered to individual and corporate investors, including Qatari nationals and legal entities established in Qatar in accordance with the rules of the Qatar Stock Exchange and the Offering Rules issued by the Qatar Financial Markets Authority and the Articles of Association of MEEZA “Investors” Individuals and companies » at the offering price.
The subscription period for subscription to the IPO will be open from June 6, 2023 to June 19, 2023 (subject to any further extension).
The company said the founders are committed to Meeza’s future success and will retain at least 50% of the company’s shares after the initial public offering.
QInvest will act as the Listing Advisor and Offering Manager.
