Qatar Exchange | PRESS RELEASE FROM BALADNA

Baladna, the Qatari Shareholding Company announced today that the subscription for its Initial Public Offering (IPO) has been concluded. The total number of subscribers to the IPO was 56653 investors including Qatari nationals and Qatari institutions and corporations.Baladna announced that the expected profits for the financial period that ends on December 31, 2019 is estimated at 81 million Qatar Riyals before subtracting the cost of listing which is estimated around 40 million Qatari Riyals,After adding net profits from that period to the shareholders accounts and paying off all past year’s losses, the net profit available for distribution to shareholders will be around 40 million Qatari RiyalsBaladna extended its appreciation to all its shareholders who took part in the country's Food Security initiative through subscribing in the IPO and through encouraging its products to cover Qatar's needs raising the slogan "Quality First".It is worth mentioning that Baladna Board of Directors is currently working on the recommendation and distribution of the expected amount of profit for the shareholders for the above-mentioned period during the month of January 2020.Baladna started the IPO on October 27, 2019 Shares will go on trading at the Qatar Stock Exchange (QSE) on December 11, 2019.