According to Qatar daily The Peninsula the starting price for the IPO is QR10 per share with an additional AED25 levied as service charges.

The move will see the telecommunications company sell off 40 percent of its authorised share capital, with a total of 338.16 million ordinary shares on offer.

Subscribers can collect application forms and prospectus from 12 banks in the country – with the Qatar National Bank (QNB) and HSBC acting as joint lead managers, financial advisors as well as acting as the lead receiving banks.

Only Qatari residents, and 100 percent Qatari-owned companies are eligible to subscribe to the primary offer.

The minimum retail subscription limit fixed at 250 shares, with only multiples of 50 sold after that figure, while the institutional investors are allowed to buy a minimum of 25,000 shares and in multiples of 500 thereafter.

Foreign retail and institutional investors can only purchase them from the secondary market, once they are listed on the Doha Securities Market, the newspaper clarified.

Full subscription amount needs to be paid with service charges directly from an applicant’s account with any of the 12 banks – no cheaques will be accepted.

Doha Bank has announced it will provide loans to help Qatari applicants subscribe to the IPO, while QNB said it was offering the electronic subscription route to Qatari nationals applying for the IPO.

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