Mazaya real estate firm launching IPO to raise QR500mn
January 17th, 2010
Public Offering Mazaya Qatar Real Estate Development Company initial (IPO), will arrive on the market January 17 to raise as much QR500mn.
The real estate company offers 50mn shares of QR10 a party and there will be a Dh50 and the price per share offered. The IPO will close on January 31.
All investors in Qatar, may require a minimum subscription of 250 shares and in multiples of 100 shares, thereafter, while corporate investors to own 100% of Qatar, may require a minimum of 2000 shares and multiples of 1000 shares thereafter.
Maximum subscription of shares will be 25mn.
“The capital increase demonstrates the strength of Mazaya Qatar to Qatar’s economy and real estate. The Board decided to wait and study the market in order to be able to determine the ideal time to capitalize on opportunities.
“First draft of society will be announced shortly,” said the president Mazaya Fahad Rashid Al-Naimi.
Sharia is specialized in property development and investment, including consulting residential, commercial and industrial real estate and research, recruitment, maintenance, real estate and brokerage business, marketing, construction and facilities management line, materials Construction, electrical and mechanical as well as export and import for commercial purposes.
QNB is the leader appointed by the IPO, Investment House is the investment adviser and Deloitte & Touche is the favorite, while Gibran Majdalani is legal counsel.
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