QFMA Announces the Enforcement of Stock
Split on 9 June 2019
April 8, 2019
Qatar Financial Markets Authority
(QFMA) announced that the enforcement date of the decision of
stock split of the companies listed at Qatar Stock Exchange
(QSE) will take place on 9 June 2019. The nominal value of a
share in all listed companies shall then become one (1) Qatari
Riyal per share. The same decision shall apply to investment
funds’ units listed in QSE.
QFMA stated that the decision of the
stock split will be enforced during the period of 9 June to 7
July 2019, in a scheduled manner coordinated with QSE, Qatar
Central Securities Depository (QCSD) and other concerned
parties.
QFMA confirmed that a detailed
schedule, of the stock split date of each of the listed
companies subject to stock splitting, shall be published later
on the websites of the QSE and QCSD.
QSE listed companies held
extraordinary meetings of their general assemblies, in parallel
with their ordinary annual meetings, in order to amend their
articles of association in preparation for the enforcement of
the decision.
QFMA, in coordination with QSE, QCSD
and the financial services companies, have held several
workshops and coordination meetings to equip the existing
systems and rules with the required through task forces formed
to coordinate and prepare for the splitting process. In addition
to that, QFMA organized last October a workshop about the stock
split, at the end of the second Corporate Governance Conference,
and invited listed companies and all related parties to enhance
awareness about the stock split processes.
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