Qatar’s Investment Holding Group upbeat on IPO

The Investment Holding Group (IHG) has finalized plans for its initial pubic offer (IPO) on the Qatar stock market on Sunday.
The IHG has established a strong presence in the Qatari business sector over the past 40 years as a reliable investment platform, owning diverse commercial and construction business activities.
The group believes its competitive advantages make it attractive for future strategic partnerships.
“We have achieved steady growth over the years. This IPO will help our management to continue to deliver on the IHG’s strategy to improve market competitiveness,” said Chairman Ghanim Sultan Al-Hodaifi.
The group has a proven track record of achieving robust results and is now moving into its next phase of growth, he said at a press conference in Doha.
“We will ensure that we are in line with Qatar’s development boom in our drive to meet the objectives of the Qatar National Vision 2030.” 
Mohamad Ghanim Sultan Al-Hodaifi, a member of the IHG board, said: “We are proud of being able to offer the first case of a family business listing in the Qatar market.”
He added: “Thanks to the strong leadership of Emir of Qatar, the country continues to execute a range of important project initiatives to help the country sustainably grow and develop.”
Wael Shtayyeh, CEO of IHG, confirmed that the Qatar Financial Markets Authority has approved plans to list 60 percent of the IHG’s capital on the stock exchange.
The group will use its transformation into a listed company to execute its future strategic plans and develop the businesses of its subsidiaries, he added.
The offer will be open for two weeks from Sunday to Jan. 22.
The IPO is offering shares worth 490,800,000 Qatari riyals, representing 60 percent of the group’s capital of 830 million riyals. Each share costs 10.1 riyals.

Source: Arab News