Khaleej Finance & Investment Company (KFI) is the lead manager and financial adviser for the IPO, which will close on 8 January. BDO Jawad Habib Consulting is the legal adviser for the offering and BDO Jawad Habib Public Accountants is the auditor. Ahli United Bank, Bahrain Islamic Bank and Standard CharteredBank will act as receiving banks and KPMG is the share registrar with Jawad Habib & Company as the allocation registrar. Following the IPO, shareholders will own 40 per cent of JIF, JBG will retain a 51 per cent stake in the company and KFI subsidiary Khaleej Fashion Franchises will hold 9 per cent.

The company plans to open 21-25 outlets in the Villagio Mall in Qatar and eight in the Abu Dhabi Marina Mall. JIF already operates 48 retail outlets in the GCC under international brands, including 21 in Dubai’s Mall of the Emirates.