𝛼SK or Searchbullish
Baladna: The Capital Is Raised, Algeria Is Building – VASRO Reiterates BUY at QAR 2.33
SUMMARY
- VASRO GmbH has published an update report on Baladna Q.P.S.C. (Qatar Stock Exchange: BLDN), reiterating its BUY recommendation with a target price of QAR 2.33 per share, revised from QAR 2.43 at initiation. Against the QAR 1.28 reference price the target implies 82.0% upside.
- Investors subscribed for 415.5m of the 536.0m new shares Baladna offered, 77.5% of the issue. At QAR 1.01 a share that raised QAR 419.6m for growth in Qatar and in regional dairy.
- The QAR 122m not raised is not a constraint. Baladna entered the second half with QAR 1,303.7m of liquid listed equity and a dairy business on course for QAR 421.7m of operating EBITDA this year, before portfolio fair-value gains and ahead of the company’s own guidance. The gap affects the timing of the expansion, not whether it proceeds.
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- Baladna: The Capital Is Raised, Algeria Is Building – VASRO Reiterates BUY at QAR 2.3309 Sep 2026
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