MEEZA to Offer its Shares Through Initial Public Offering in June

MEEZA QSTP LLC (Public), the leading managed IT and data center service provider in the State of Qatar has obtained the required regulatory approvals of the Qatar Financial Market Authority (QFMA) and the Qatar Stock Exchange (QSE) to offer 324,490,000 ordinary fully paid-up shares by way of initial public offering, followed by a listing of all of the company's shares on the QSE Main Market.

In a statement on Monday, the company indicated that 50 percent of the shares, equivalent to 324,490,000 shares, are being offered at an offer price of QR 2.17 per offer share. The offer price includes the nominal value of QR 1.00 per share, a premium of QR 1.16, and offering and listing fees of QAR 0.01 per share.

Prior to the offering, the company offered 37.41 percent of the offer shares to a set of qualified investors according to the Book Building Mechanism issued by the QFMA. 62.59 percent of the offer shares (constituting 203,097,000 Shares) are currently being offered to eligible investors, including Qatari citizens and legal entities incorporated in Qatar.

According to the offering data, Qatar Foundation for Education, Science and Community Development will hold at least 40 percent of the capital of Meeza, while Ooredoo will hold at least 10 percent of the company's capital.

Source: Qatar News Agency