Portland wins PRCA Award following successful work on Baladna IPOMarch 1, 2020
Strategic communications agency Portland has won the PRCA 2020 ‘Best IPO’ campaign award for its support to Baladna’s IPO on the Qatar Stock Exchange.
Portland’s financial communications support on the deal was recognized from a competitive field as being the most significant and highest quality campaign. The winning of the award follows significant investment by Portland in its financial communications teams in Doha and London and is the second listing that Portland has worked on following Qatar Petroleum’s Qamco in 2018.
Portland created and implemented an integrated digital, social and traditional media campaign for the QR1.43 bn Baladna IPO, representing 75% of the share capital of the Company. Working closely with the Baladna IPO team and lead advisors QNB Capital, the Portland team delivered a strategy aimed primarily at Qatari retail and institutional investors, with a secondary target audience of international investors in the latter phases.
Locally the campaign-built investor support through an equity story evoking Qatari pride in the Baladna brand and made use of Qatar’s extraordinarily high mobile-phone penetration. The campaign established visibility and credibility outside of Qatar by running a strong international media operation.
Portland’s financial communications team that was established in August 2018 has seen an increasing volume of work come from within Qatar, with this recent award highlighting the quality and variety of services available to clients. Via its offices in Doha and London, the experienced team supports Qatari clients on a full rostrum of financial and strategic communications products.
Portland’s office in Doha, headed by General Manager Justin Kerr-Stevens, provides a range of communications support that also includes government advisory, corporate communications, disputes and global philanthropy.
The Portland award for best IPO is the first time that a project relating to Qatar has been recognized by the PRCA. The PRCA is the world’s largest PR professional body, representing in excess of 30,000 communications practitioners. Operating in 66 countries around the world, the PRCA has offices in the UK, Singapore, and Dubai, providing members with industry data, facilitating the sharing of communications best practice, and creating networking opportunities.
Moutaz al Khayyat, Group Chairman of Baladna, said, “I’m delighted that Baladna’s IPO has been recognized by the PRCA judges in this competitive category. Baladna was established in 2014 and in this short period of time has grown to become Qatar’s leading dairy and beverage company, and critical to the country’s food security.”
Ramez al Khayyat, Managing Director of Baladna added: “The high standards to which the IPO was managed by our advisors was rewarded as the offer was oversubscribed. The IPO was an important milestone for the company, and we look forward to fulfilling our growth plans and rewarding our investors for placing their trust in us.”
Patrick Forbes, Partner of Portland and team leader on the transaction, commented: “It was a great pleasure to work alongside the Baladna team and QNB Capital as lead advisors on this important transaction. As the only IPO on the Qatar Stock Exchange in 2019 the listing of Baladna in December last year was a symbolic moment for the entire country. Wherever you look in the world today business is becoming more politicized, driven by rising nationalism, activism, and international rivalries. This complexity was evident for everyone involved in the IPO against the backdrop of the blockade of Qatar.”
Francis Ingham, Director General of the PRCA, added: “The PRCA’s mission is to challenge, support, and raise standards across the industry. Our judges panel considered Portland’s submission of the Baladna IPO to be in line with this mission by providing valuable insights into how IPO advisors can manage the increased politicization of business and capital markets. I’m sure we will see more transactions of this complexity in the coming years, and I congratulate the Portland and Baladna teams on their work.”
Source: Qatar Tribune >>