AlRayan Investment (ARI) has announced the successful completion of the landmark rights issue of Baladna, one of the largest capital increases on the Qatar Stock Exchange (QSE) in the last few years.
It is also the first rights issue executed under the Qatar Financial Markets Authority’s new Offering, Listing, and Mergers and Acquisitions Rules introduced in December 2025.
As the sole offering manager, ARI structured and delivered the transaction end-to-end, reaffirming its position at the forefront of Qatar’s equity capital markets. The offering lifted Baladna’s share capital by 25% to QR2.68tn and attracted exceptional investor demand. Every new share was placed in full. The entire unsubscribed tranche was absorbed within the opening minutes of the first trading day, achieving 100% coverage.
Baladna’s shares closed the session 1.5% higher, a resounding vote of market confidence, with the milestone celebrated at a bell-ringing ceremony at the QSE. The transaction marks a significant step forward in the continued development and deepening of Qatar’s capital markets.
“We are proud to have advised Baladna on the successful completion of this rights issue, one of the most significant equity capital markets transactions in the Qatari market in the last few years.
“This transaction underscores ARl’s ability to manage and execute a complex capital raise, end-to-end, and we thank Baladna for their trust through the process,” said Akber Khan, acting CEO of ARl.
Saifullah Khan, Group Chief Financial officer of Baladna, added: “The completion of our capital increase marks an important step in Baladna’s growth journey and reflects the continued confidence of our shareholders in the strength and resilience of our business.
“The proceeds have further strengthened our capital base and support our ability to pursue growth within Qatar and internationally, with discipline and focus. We are grateful to AlRayan Investment for their partnership and professionalism in bringing this transaction to an efficient and successful conclusion.”
