Qatar Islamic Bank (QIB) has announced its participation in the Initial Public Offering (IPO) of Baladna, the leading and largest dairy producer in Qatar. The IPO will run from October 27 to November 7, 2019.
To simplify the subscription process, QIB recently upgraded its award-winning mobile app and Internet banking to give Qatari customers the opportunity to register and subscribe online to any IPO. The E-IPO functionality allows pre-registered customers to subscribe to an IPO for themselves, and their dependents below the age of 18, within just a few minutes.
Non-registered customers can easily register through QIB’s mobile app or Internet banking. The E-IPO process is hassle free, paperless, and does not require the customer to visit a QIB branch.
Qatari customers participating in the IPO can also subscribe by visiting any of QIB’s 13 branches located across the country with dedicated centres to serve ladies, Private, and Tamayuz customers, as well as dedicated corporate sections.
Participating branches for the IPO include Salwa Road, Al Rayan, Airport, Gharafa (Q-mall), Al Khor, Al Sadd, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Centre (Fanar), C-Ring, Dukhan, Muaither, Umm Salal, Wakrah, and Corporate Branch on Grand Hamad Street.
Salwa Road, Rayyan, Airport, Q-Mall (Gharaffa) and Corporate Branch will be open from Sunday through Thursday from 7.30am till 1pm and will re-open 5pm till 7.30pm; Saturdays from 9am till 12pm. The remaining participating branches will be open from 7.30am till 4pm, and from 9am till 12pm on Saturdays.
Tamayuz customers can also subscribe through six dedicated centres located at C-Ring, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Centre (Fanar), Gharafa (Q-Mall), Salwa Branch, Al Rayan, and Al Khor.
Private Banking customers can visit Al Sadd Private Centre. Ladies customers can enjoy full privacy while subscribing through five dedicated centres located at Salwa Road, Al Sadd, Al Rayan, Umm Slal, and Al Khor.
Corporate and small and medium-sized enterprises with valid CR can subscribe through the Corporate Branch at Grand Hamad Street, Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cultural Centre (Fanar), and Muaither branches.
QIB Qatari customers that are interested in a personal subscription will need to fill the IPO subscription form and present their valid QID with a copy. If applying on behalf of a minor, the applicant needs to provide an original birth certificate or the minor’s passport, QID of the person making the application, and a document proving that the person making this application is the parent or legal guardian of the minor, alongside an authentic and valid copy.
QIB customers can also apply for a finance to subscribe if their salaries are transferred to QIB. The customer needs to cover 35% of the subscription amount, in addition to the fees, whereas QIB will finance 65% of the subscription amount.
Customers need to fill out the finance application alongside the shares related forms and provide a cheque with the total finance amount, alongside additional copies of QIDs of the applicant and the subscribers.
Finance applications will be accepted from October 27 to November 5, 2019. In case the shares are pledged against the finance, it will take up to 10 working days to release the shares after the finance is settled. The due date for all IPO financing is January 31, 2020 and settlement will be made in one bullet payment. For more information, visit www.qib.com.qa.