Qatar First Bank (QFB) will be listed on the Qatar Stock Exchange on April 27 (Wednesday), making it the first Qatar Financial Centre-authorised entity to debut in the domestic bourse.
With this, total number of listed firms in the local bourse will go up to 44. QFB will be listed under the banking and financial services sector, which already has 12 other constituents.
QFB was established in September 4, 2008. The bank’s authorised capital amounts to QR2.5bn and the issued capital is QR2bn which is 100% is paid up.
The reference price for the first day will be QR15 with a fluctuation of 30% up/down which will be permitted only for the first day of listing. However; price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies.
On first day of trading, the standard procedures of initial public offerings will apply. Brokerage companies will be permitted to enter any buy/sell orders for QFB shares in the pre-open session at 8.30am for the listing morning day only. The pre-opening session for all other listed companies will remain as business usual at 9.00am.
The company’s current shareholders’ data about 1,600 will be available to all brokerage firms effective Sunday, April 24, 2016.
QSE chief executive Rashid Ali al-Mansoori invited the issuers wishing to offer or to list their securities, whether registered in the Ministry of Economy and Commerce or in the QFC, to take advantage of the recently announced “single window” procedure which entitles one entity to complete all procedures of listing and admission to trading.
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 QSE, al-Mansoori said.
QFB’s business activities include among others, deposit taking, dealing in investments, arranging deals in investments and providing credit facilities.
With the QFB listing, total number of listed firms on the QSE will go up to 44. PICTURE: Noushad Thekkayil
