Qatar Stock Exchange CEO to Al-Sharq Newspaper: Privatization of the Exchange and Listing New Companies Soon

Interview: Awad Al Toom:

** Program to privatize the stock exchange and initiatives to stimulate the market and encourage IPOs

** Arrangements for listing real estate funds in coordination with the investors of the sector

** The Committee for the development of financial markets has come a long way and communicates with various parties

** Currently in contact with family companies to list them in the stock market

** Working on adding a new energy index this year

** Introduce global Islamic indices of and others for gold

** A large Qatar market promotional tour to America and Asia

** Listing Baladna in Qatar Exchange has reached advanced stages

** Splitting the nominal value of the stock attracted a new and large slice of shareholders

** 10 major Asian financial institutions are considering entering the Qatari market

** Blockade countries’ schemes failed impose economic siege on Qatar

** Foreign investments in the stock exchange amount to 11%, 45% of which in trading

** Trading dates are carefully considered and meet the needs of investors

** The decision to move to the city of Msheireb is in the hand of the Board of Directors

** The One-stop Service Desk experience must be developed and brokerage companies should be stimulated

** The stock exchange must have a special architectural image

** There is a large presence of foreign funds and we arrange to include real estate funds

** Working on the development of online IPOs

** Plan to open the way for financial institutions to subscribe on behalf of their clients

** We are looking forward to three or four IPOs per year

** Gold and Islamic indicators are going according to plan

** Our financial markets attract investors from all over the world

** We aspire to a building that will be a symbol and an eminent statement of the Qatari economy

April 21, 2019

In an interview with Al-Sharq newspaper, Rashid Al-Mansoori, Chief Executive Officer of Qatar Exchange, revealed that the Stock Exchange is working on a privatization program as an important and necessary step in boosting the market significantly according to the management strategy aimed at developing and expanding the QSE as an important gateway to attracting foreign investment to Qatar and the largest market in the region that is currently included in global indices.

He said that the stock market needs the support of the concerned parties to prepare and implement the privatization program, and set a schedule for periodic and continuous listings and movement to activate liquidity, diversify options and give new opportunities to investors.

On the steps that have been taken in this regard, Al-Mansoori said that a committee called the Financial Market Development Committee is communicating with all concerned parties to encourage privatization programs and subscriptions, while also working with family companies to be listed on the stock exchange to expand the market.

Regarding the recent steps taken by the State in attracting foreign investments to the Qatari market, Mr. Rashid Al-Mansoori stressed that there is a large presence of foreign funds. He pointed out that foreign investors own between 10% and 11% in the market and carry about 45% in trading transactions, a necessary and positive activity at the same time for the market, the Qatari investor and listed companies.

QSE’s CEO announced a plan to add a new sector to the exchange during the current year called the Energy Sector, and he stressed the importance of splitting the nominal value of the stock for both the local and foreign investors, as it boosts the market and its movement, as it attracts a new and large segment of shareholders. In addition to that, the splitting process is a requirement from some domestic and international financial institutions.

On the new listings, Mr. Rashid explained that the stock exchange is currently working on listing Baladna, which has reached advanced stages, but has not yet determined the time to implement the listing.

He stressed the need to develop the process of subscriptions for IPOs, through moving away from paperwork style to a more digitalized mobile approach, without requiring to physically be at the headquarters of the stock market. This enhancement must include allowing financial institutions to act as intermediaries and subscribe on behalf of customers.

Mr. Al-Mansoori denied that QSE is planning to transfer to the city of Msheireb, pointing out that the exchange has signed a lease contract to stay in the current building for two years, but stressed the need for the stock exchange to have its own signature building that would meet its needs, such as conference halls, and press rooms for the press, broadcasting and the like.

“We aspire to a building that will be a symbol, an architectural masterpiece for officials and international visitors, and an eminent statement of the Qatari economy,” he said, pointing out that QSE owns lands that can be used to build a stock exchange building suitable for Qatar.