Dandy Set for QSE Debut Through 40% Share Offering

Dandy Ltd Company, one of Qatar’s leading manufacturers and distributors of dairy, beverage and ice cream products, has received approval from the Qatar Financial Markets Authority (QFMA) to proceed with the offering of 40 percent of its share capital to institutional and individual investors, marking a significant milestone in the company’s plans to list on the Qatar Stock Exchange (QSE).

The company, which has been serving the Qatari market for more than 45 years, said the offering price will be determined through a book-building mechanism, a pricing method widely used in global and regional capital markets to ensure fair valuation of securities.

The approval comes under the Offering, Listing, Mergers and Acquisitions Rules issued by the QFMA Board pursuant to Decision No. (8) of 2025. The regulatory framework forms part of broader efforts by the QFMA and the Qatar Stock Exchange to enhance the attractiveness of Qatar’s capital market, encourage more private companies to go public, and provide investors with a wider range of investmentopportunities.

According to the company, the offering will be conducted in two phases. The first phase will involve the allocation of 12.36 million shares, representing 30 percent of the total offer shares, to institutional investors through the book-building process and in accordance with the timeline approved by the QFMA.

The second phase will consist of a public offering of 28.84 million shares, representing 70 percent of the offer shares, to individual Qatari nationals and entities incorporated in Qatar. The subscription price for the public offering will be based on the final price determined through the institutional book-building process.

Dandy stated that the expected offer price range is between QR5 and QR5.20 per share, excluding offering and listing fees. The final offer price will be established after evaluating demand from institutional investors during the book-building stage.

Market experts view the use of the book-building mechanism as a positive development for Qatar’s capital market. The process allows experienced institutional investors to assess the company’s value and provide pricing indications, helping to establish a market-driven offer price that reflects investor demand and the company’s fundamentals.

The proposed listing is expected to add a prominent consumer goods company to the Qatar Stock Exchange, further diversifying the market’s sectoral representation. Dandy has built a strong presence in Qatar’s food and beverage sector over the past four and a half decades through the production and distribution of a wide range of dairy products, beverages and ice cream products.

The offering also highlights the continued cooperation between the QFMA and QSE in modernising market regulations and adopting international best practices aimed at enhancing market efficiency, transparency and investor confidence.

With the approval now secured, investors will closely watch the upcoming book-building process, which will determine the final offer price and pave the way for one of the notable public offerings in Qatar’s consumer goods sector in recent years.