Baladna set to launch IPO in Q4 2019: Official
In talks to export huge volumes of dairy products to Asian countries after summer
Currently we have above 20,000 cows. If the export volume rises, we will have more cows to meet the demand. Our aim will be to create value for investors by exporting al least 10 percent of the total turnout volume
Baladna Senior Marketing Director Maher Eldaly
BALADNA Food Industries, Qatar’s largest producer of fresh dairy and beverages, is set to launch initial public offering (IPO) for listing on Qatar Stock Exchange (QSE) in the fourth quarter of this year, a senior official of the company has said.
Talking to Qatar Tribune on the sidelines of the company’s Ghabga event in Doha recently, Baladna Senior Marketing Director Maher Eldaly said the company has done all necessary formalities to launch the IPO after the summers are over.
“IPO launch will be a major milestone in our road to success. We want to launch it at a time when all the investors are in the country. 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,” the official said.
“We don’t want to take any chances. We have shown the world that 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. We want to ensure that we receive huge response from investors,” the official said.
According to a recent report, QSE has received approval from the Ministry of Commerce and Industry regarding Baladna IPO for its listing on the exchange.
If things go as per schedule, Baladna will be the first company to be listed on QSE in 2019.
After achieving 100 percent self-sufficiency in meeting the demand for local market, the official said, Baladna has already started exporting dairy products to international markets.
“Our shipments are on way to few countries and we are in negotiations with several other Asian countries to export our products. We have started with long-life milk. In the next four, five months we will be exporting to countries that are well-known in the region,” Eldaly said.
The official said that Baladna will consider increasing the number of cows if there will be huge demand from the international market.
“Currently we have above 20,000 cows. If the export volume rises, we will have more cows to meet the demand. Our aim will be to create value for investors by exporting al least 10 percent of the total turnout volume,” he said.
The official said that Baladna has also started campaigns in several Asian countries to popularise its products.