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Qatar News Agency reported on September 30, 2026, that Dandy has opened the public subscription phase for its initial public offering ahead of a planned listing on the main market of the Qatar Stock Exchange. The window for Qatari individual and corporate investors runs from October 7 to October 20, during which applications for the retail tranche will be accepted through designated channels. This phase covers 28.84 million shares priced at 5.01 riyals each, inclusive of the one-halalah offering and listing fee, completing the two-tranche structure established earlier in the process.
The institutional book-building phase, which allocated 12.36 million shares to 19 investors, closed oversubscribed and set the base price at five riyals, according to company announcements from August. Dandy is offering a total of 41.2 million shares, equivalent to 40 percent of its issued capital, with the public tranche representing the remaining 70 percent of the deal. Only Qatari nationals and entities holding valid commercial registration in the country may participate in the public subscription, as specified in the regulatory framework governing the transaction.
The company, which has produced dairy, beverage and ice cream products in Qatar for more than 45 years, maintains an issued and paid-up capital of 103 million riyals divided into 103 million ordinary shares with a nominal value of one riyal each. Upon successful completion of the offering and subsequent listing, the free float will stand at 40 percent, with the allocated shares subject to lock-up requirements under Qatar Financial Markets Authority rules. Earlier disclosures from Dandy outlined the structure and confirmed that the final price landed at the bottom of the originally indicated range of five to 5.20 riyals.
Maroon Capital Advisory served as the offering and listing adviser throughout the process, the company said in statements accompanying each phase. The Qatar Financial Markets Authority issued a no-objection letter confirming completion of prerequisites for the IPO and conversion to a public shareholding company. The entire offering proceeds under QFMA Board Decision No 8 of 2025 on offering, listing, mergers and acquisitions rules, which the Qatar Stock Exchange has cited as part of ongoing efforts to attract additional issuers to the market.
Applications during the public subscription period must comply with all eligibility criteria and procedural guidelines issued by the company and its advisers. Allocation details and any potential oversubscription mechanics for the retail portion will be determined after the window closes on October 20. Listing and commencement of trading on the Qatar Stock Exchange main market are scheduled to follow shortly thereafter once all regulatory formalities are finalised.
