Qatar construction firm IHG to proceed with $138m IPO
Investment Holding Group set to launch an initial public offering next week
The Qatari contractor Investment Holding Group (IHG) plans to go ahead with an initial public offering (IPO) next week after winning approvals, according to reports.
IHG, a holding company, has companies specialising in contracting, shipping, real estate and education.
It will offer 49.8 million shares, or 60% of its capital, at 10.1 riyals per share, the company said in a statement late on Sunday, according to Reuters.
That would make the value of the family-owned contracting and trading business’s offer about $138 million.
IHG said it has received approval from the Qatar Financial Markets Authority (QFMA) for the listing, making it the first Qatari family business to get a listing in the Qatar Stock Exchange through an IPO, Gulf News reported.
The offer period is from January 8, 2017 to January 22, 2017.
