Stadium Booked for Al-Rayyan Bank’s IPO

DOHA, 16 January 2006 — A Qatar bank has hired a sports stadium to accommodate investors expected to scramble for Al-Rayyan Bank’s $1.1 billion initial public offering, the biggest ever in the Gulf Arab region. Gulf IPOs often trigger a frenzy as investors vie for a share of the equity boom in the world’s biggest oil-exporting region. Scuffles have broken out in the past, and Al-Rayyan’s arranger left nothing to chance when the offer opened yesterday. Qatar National Bank booked a stadium in the capital Doha for the two-week offer period, and police were on hand to control crowds expected to buy shares in a bank that says it will not be operational for at least eight months.