Why people scuffle for Al Rayan IPO?

Posted on Thu, 01/19/2006 - 17:17

As I posted here about the opening of Al Rayan IPO; people are reportedly in a flock, including many other GCC nationals to register.

Why people scuffle for Al Rayan IPO?

I asked this question to some Qatari friend I have here in work. And they are in full smile while giving me past stories of being part of the IPO opening. They told success stories of QTel; where shares offered to Nationals at face value of QR10; and the cost now is QR224!

Most Qataris now even young ones are all playing with stocks.

New opens IPO like Al Rayyan is a big attraction for everyone here in Qatar.

The IPO is open to all GCC nationals: 80 percent for Qataris and 20 percent for the rest of the GCC citizens. The IPO priced at QR10, and one has to pay only QR5 on application.

People here hope that the shares of Al Rayan Bank on listing on the DSM may open between QR70 and QR100 and that explains why there is a rush to subscribe to this lucrative offer.