Qatari contractor IHG eyes $135m IPO
Investment Holding Group (IHG) has won approval from the Qatari Financial Markets Authority to launch an Initial Public Offering (IPO).
The contractor said the total value offer will be around QAR 491mn ($135mn), representing 60 percent of the groups capital.
Qatari citizens, local companies registered in Qatar or companies incorporated in the country and listed on the Qatari stock exchange can directly subscribe for the shares. The IPO will be offered through The Commercial Bank.
IHG has become a leading player across various segments of the contracting sector and is also a supplier of building materials, safety equipment, tools, timber, security systems and firefighting systems.
IHG is the direct or indirect legal owner of Construction Development Contracting & Trading (51 percent); Debbas Enterprise Qatar (51 percent); Electro Mechanical Engineering Company (68.5 percent); Consolidated Engineering Systems Company (60.4 percent); Watermaster (Qatar) (63.3 percent); Trelco Limited Company (100 percent); Consolidated Supplies Company (75.5 percent); and Trelco Building Materials Company (85 percent).