Meeza, an established end-to-end Managed IT services and solutions provider based in Qatar, will Wednesday start trading on the Qatar Stock Exchange's (QSE) main market.
This follows the approvals obtained from the Qatar Financial Markets Authority (QFMA) and the QSE's board, as well as the completion of all necessary technical, regulatory, and administrative procedures.
With the listing of Meeza, the total number of companies listed on the QSE main market will increase to 51.
The shares of Meeza will be listed with the symbol "MEZA" in QSE main market under the consumer goods and services sector.
The offering price has been set at QR2.17, consisting of a nominal value of QR1 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company.
On the first day of listing, the company’s price will be floated, and from the second day, it will be allowed to fluctuate by 10% up or down, similar to other listed entities in the market.
All 648.89mn shares of Meeza will be listed, representing 100% of the total capital of the company.
There will be no change in the trading session timing on the first day of listing, and the pre-open phase will commence at the usual time of 9:00am.
As many as 324.49mn shares were offered for subscription, representing 50% of the total capital. Some 121.39mn shares were offered for qualified investors who participated in the book-building process, representing 18.71% of the capital, and 203.1mn shares for Qatari individual and corporate investors, representing 31.29% of the company's capital.
The founders will retain the remaining percentage of the shares, which amounts to 324.49mn shares, representing 50% of the total capital of the company.
The offering of Meeza shares was conducted through the 'book building' mechanism, which was used for the first time in Qatar.
The book building mechanism, used in many global and regional markets, determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.
