Baladna IPO Targets to Raise QR1.42Bn
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BUSINESS | 15 SPORT | 20 SC targets to sell Tokyo 2020 3 million tickets qualifiers: Qatar for 2022 FIFA off to a flying games start at home Friday 18 October 2019 | 19 Safar 1441 www.thepeninsula.qa Volume 24 | Number 8048 | 2 Riyals Baladna IPO targets PM, Belarusian official review bilateral ties to raise QR1.42bn MOHAMMAD SHOEB The Company of the Company (the Founders) THE PENINSULA will have a total will transfer 100 percent of the issued share capital of BFI to the Baladna Food Industries (BFI), share capital of Company upon its final incor- the locally-owned dairy and QR1,901,000,000 poration. In return, the Founders beverage company which has (about QR1.90bn) will receive, as consideration for become the beacon of self-suffi- and the subscription the transfer of the BFI shares, ciency drive in Qatar, announced 475,250,000 shares representing yesterday to raise about period for the IPO will 25 percent of the Company’s QR1.42bn ($382m) in an initial last from October 27 share capital. public offering (IPO) of to November 7, with BFI is Qatar’s largest dairy 1,425,750,000 new shares (the the first day of trading and beverages company, and Offer Shares) on the Qatar Stock since its incorporation in March Exchange, representing 75 at QSE expected on 2014, the company’s herd has percent of the share capital of December 11, 2019. grown to approximately 18,000 the Company. cows, housed in two farms Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani met here The Offer Shares are being spread over a total area of yesterday with Assistant to Belarusian President on National Security, Viktor Lukashenko. They offered at QR1.01 per share (the Baladna, said at a press more than two million square Offer Price), representing the conference. metres. discussed bilateral relations and means to boost them, in addition to a number of issues of common nominal value of QR1 per Offer The founders of the In its barns, plants, and fac- concern. H E the Prime Minster and Interior Minister hosted a luncheon banquet in honour of the Share plus offering and listing company will retain 25 percent tories, BFI implements interna- Assistant to Belarusian President and his accompanying delegation. expenses of QR0.01 (one dirham) of the shares. Strategic investors tional best practice in veterinary per share, through nine banks, including the General care, hygiene and food safety to including QNB. Retirement and Social maintain the highest quality of The Company will have a Insurance Authority (10 percent) fresh produce, so that in 2017, ILO welcomes new labour reforms total share capital of and local companies such as mid-blockade, BFI proactively QR1,901,000,000 (about Hassad Food (five percent), Al made Qatar self-sufficient in QNA/THE PENINSULA will greatly support the rights of Labor Law, reported QNA. QR1.90bn) divided into Meera (four percent), Mwani fresh milk. GENEVA/DOHA migrant workers, while contrib- The new labour reforms 1,900,999,999 (1.9 billion) Qatar (two percent), Widam In April 2019, the company uting to a more efficient and pro- have also gained praise from the ordinary shares consisting of the Food Company (two percent), began selling non-dairy The International Labour Organi- ductive economy. diplomatic community in Qatar. Offer Shares, the Founders’ have committed to buying 23 products, namely juices. Baladna sation (ILO) has welcomed the The ILO said that these “I would like to congratulate Shares (all ordinary shares), and percent, while the Qatari public has also commenced limited comprehensive reforms announced reforms are part of the ILO and the State of Qatar and the Min- the Special Share. will have access to the exports to neighbouring by the State of Qatar, aimed at the Ministry of Administrative istry of Administrative Devel- The subscription period for remaining 52 percent. countries. ending Kafala system and setting Development, Labour and Social opment, Labour and Social the IPO will last from October The eligible investors are BFI’s resources include its an important step forward in Affairs cooperation agreement Affairs for this important reform 27 to November 7, with the first individuals and corporate own plastic factory and on-site supporting the rights of migrant signed in 2017, which resulted that establishes a non-discrim- day of trading at QSE expected investors regardless of any packaging/bottling plants, a workers. in the opening of an ILO Project inatory minimum wage for all on December 11, 2019. nationality, defined as legal water treatment facility to meet In a statement released by Office in Doha in April 2018. workers and completes the The listing of Baladna, one entities incorporated in the State farm operation needs, a feed the United Nations News Center The Cabinet approved on abolishment of the ‘kafala of the fastest growing com- of Qatar holding a commercial storage facility with a six-month yesterday, ILO said that the com- Wednesday a draft decision of system’ by removing the exit panies in the region, will allow registration certificate issued by reserve capacity, and state-of- bined steps marked the end of the Minister of Interior on the permit for domestic workers Qataris to participate in the the Qatari Ministry of Commerce the-art facilities including the Kafala system in the country. controls and procedures for the and all other categories of expat company’s growth, Ramez Al and Industry. most advanced milking parlour The ILO Director-General exit of some categories of expa- workers not covered by Law No. Khayyat, Vice-Chairman of The founding shareholders in the region. `P3 Guy Ryder said that these steps triates who are not subject to the 13 of 2018." `P3 Qatar Airways offers comfortable Langkawi travel Europe okays Brexit deal and THE PENINSULA Malaysia and to connecting convenience and enhanced con- Marketing of Malaysia Airports, began flying direct to Penang DOHA Langkawi to its extensive global nectivity to an extensive choice of Mohamed Sallauddin Mat Sah; International Airport from Doha. urges UK MPs network via the award-winning destinations on our global route and Chief Executive Officer of This new flight to LGK, which is Qatar Airways Group Chief Exec- Hamad International Airport network. We invite all our global Langkawi Development an extended route via Penang, to support it utive, Akbar Al Baker highlighted (HIA). passengers to experience the ‘Jewel Authority (LADA), Dr. Hezri Bin will definitely be a great addition the award-winning airline’s “We are very pleased to launch of Kedah’, and we look forward to Adnan. to the international airlines oper- AFP robust expansion plans during a our new direct service to Langkawi, welcoming you all on board,” said Mohamed Sallauddin Mat ating at LGK. Being the first BRUSSELS press conference held yesterday our third gateway into Malaysia. Al Baker. Sah, said:“We take immense Middle Eastern carrier to operate at the Ritz-Carlton in Langkawi Langkawi is both an important The press conference was pleasure in welcoming Qatar at LGK, this long-haul flight will European Union leaders to celebrate the launch of Qatar tourist destination and a growing attended by Qatari Ambassador Airways to Langkawi Interna- expand the tourism opportunities endorsed a hard-fought Brexit Airways’ inaugural flight to conference and exhibition centre to Malaysia, Fahad Mohammed tional Airport (LGK) who has in Malaysia, particularly in deal with Britain yesterday, but Langkawi, Malaysia. which is becoming increasingly Kafoud; Charge d’Affaires of the been our airline partner at the Langkawi, The Jewel of Kedah. Prime Minister Boris Johnson Al Baker also underlined popular with international visitors. Embassy of Malaysia in Qatar, Kuala Lumpur International We look forward to creating faces an uphill battle getting it Qatar Airways’ commitment to This new gateway will offer our Mohamad Shahir Sabarudin; Airport for the past 18 years. many more memorable moments through the British parliament. bringing more visitors to Malaysian passengers even more General Manager, Airline Early last year, Qatar Airways with Qatar Airways.” `P3 “It looks like we are very close to the final stretch,” EU Council President Donald Tusk told reporters after the other 27 ‘Turkish operation in Syria to be leaders approved the accord. But despite optimism from paused for YPG’s withdrawal’ Johnson, British opposition parties and some of the prime ANATOLIA Syria in particular, necessitate closer minister’s own allies in the ANKARA coordination on the basis of common House of Commons were quick interests. to warn they would not support Turkey will pause its anti-terror oper- “The two sides agreed on the con- it when it goes to a vote in a ation in northern Syria to allow the with- tinued importance and functionality of special sitting tomorrow. drawal of YPG from the planned safe a safe zone in order to address the If the deal is defeated, the zone, said a joint Turkish-US statement national security concerns of Turkey, to prime minister is obliged under yesterday. include the re-collection of YPG heavy British law to ask EU leaders to “The safe zone will be primarily weapons and the disablement of their postpone Brexit for a third time enforced by the Turkish Armed Forces fortifications and all other fighting posi- — breaking his vow to lead and the two sides will increase their tions,” it added. Britain out on October 31. cooperation in all dimensions of its The statement also highlighted that Tusk said that if his hap- implementation,” said the statement. when the Operation Peace Spring — pened he would consult “The Turkish side will pause Oper- Turkey’s anti-terror operation in member states on how to ation Peace Spring in order to allow the northern Syria — is halted, the US respond.