In the presence of a number of distinguished guests, investors and interested parties, the shares of Dukhan Bank were listed today for trading in the main market of the Qatar Stock Exchange, bringing the number of companies listed in the main market to fifty (50) Qatari public shareholding companies.
Dukhan Bank was established in its final form under the name of Barwa Bank, and then merged by way of consolidation with Qatar International Bank in April 2019. In October 2020, the bank changed its brand to Dukhan Bank, with an authorized and issued capital of 5.234 billion Qatari riyals, which is 100% fully paid. And one of the most important purposes of the bank is to carry out, whether for its own account or for the account of others, locally and internationally, in all aspects of banking, financing, investment, real estate, and social services, in accordance with the provisions of Islamic Sharia.
Dukhan Bank was listed through the “Direct Listing” mechanism, which is common to all markets in the region and allows companies to list without having an initial public offering of their shares.
On this occasion, Mr. Abdulaziz Nasser Al-Emadi, Acting CEO of the Qatar Stock Exchange, expressed his welcome to the listing of Dukhan Bank on the Qatar Stock Exchange, as it is the second company to be listed on the main market through the direct listing mechanism after its approval by the regulatory and supervisory authorities. He said: "The listing of this company is a new addition that will increase the depth of the market and provide investors with a new opportunity and an additional choice of what is available on the Qatar Stock Exchange of companies representing various sectors.
Mr. Al-Emadi added that the Qatar Stock Exchange is making unremitting efforts to increase the number of companies listed on the stock exchange by raising awareness of the advantages of listing them in the financial markets.
Dukhan Bank shares were listed today with the symbol "DUBK" in the banking and financial services sector, where the company's share price was floated on the first trading day. 4,000 Qatari riyals, and the lowest price is 2,990 Qatari riyals.
Starting from the second day of trading the company's shares, the price will be allowed to fluctuate by 10%, up and down, as is the case for other companies listed in the market.
It is worth noting that the company's shareholder data has been made available to the brokerage firms as of Wednesday, February 15, 2023, in preparation for trading their shares. As of that date, the shareholders were able, as of that date, to review the brokerage companies directly to deliver buy or sell orders.