QSE to receive applications for public offering, listing, admission to trading

The Qatar Stock Exchange (QSE) will become the official party entitled to receive applications for public offering, listing and admission to trading, as well as to review these applications and check if they comply with the conditions and requirements of the QFMA regulations and the QSE rulebook.
This is stated in a market notice issued by the QSE, “in application of the Financial Markets Development Committee (FMDC) decision issued in its first meeting of 2016; and in view of the keenness of the Qatar Financial Markets Authority (QFMA) and the Qatar Stock Exchange (QSE) to make it easier for issuers seeking to offer their securities and list them on the QSE.”
The notice has taken effect on March 27. This task was assigned to the QSE following the QFMA’s approval of the issuance of a market notice on the reception of applications for offering, listing and admission to trading on the QSE, which was published on the QSE website in Arabic and English, along with the relevant documents and requirements checklist.
Rashid bin Ali al-Mansoori, the Qatar Stock Exchange CEO said, “The publication of the market notice must be seen as one of the fruits of cooperation between the QSE and the QFMA and a recognition of our joint willingness to enhance investments in the capital markets, in accordance with the governmental directions which consider the QSE as a mirror of the national economy.”
The issuance of the market notice is intended to make it easier for the issuers wishing to offer their securities and to list them on the QSE through the processing of their applications via the “single window” system, based on having one single party that is in charge of the reception of listing and admission to trading applications, al-Mansoori pointed out.
After receiving and checking the applications against the terms and requirements set forth in this notice and its attached checklists, the QSE will submit the eligible applications to a joint listing committee, which is competent to review the applications and to submit them to the QFMA for final approval, he added.
Pursuant to this notice, the issuers wishing to offer or to list their securities on the stock market shall submit their applications to the QSE Listing Department in its capacity as the competent party to receive offering/listing applications.
The QSE is ready to cooperate with all the companies wishing or planning to list on the stock exchange, especially in view of the fact that the stock market has ample and qualified expertise to guide the companies through the listing requirements and procedures, as well as in terms of the transformation into a public joint stock eligible for listing on the Qatar Stock Exchange.

wi-tribe concludes sale in Pakistan

Ooredoo yesterday said its subsidiary wi-tribe concluded the sale of wi-tribe Pakistan to HB Offshore Investment for approximately QR32.7mn in line with the carrying value of the asset.
HB Group is well-established within the telecommunications sector in Pakistan, and is planning to expand further, the Ooredoo release said. wi-tribe is a subsidiary of Ooredoo and is registered in the Cayman Islands. HB Offshore Investments is registered in Mauritius under the umbrella of the HB Group International, which is a privately owned multinational business.