The Qatar Stock Exchange has announced the date of listing Al-Mahar Holding Company in the second market (start-ups market) on the Qatar Stock Exchange, as of Wednesday, June 7, 2023, after completing all technical, organizational and administrative procedures and obtaining the approval of the Qatar Financial Markets Authority on the listing, and approval of the Board of Directors of the Stock Exchange that agreed to accept trading of the company's shares, thus increasing the number of companies listed in the emerging companies market to two companies.
All the company's shares with its capital amounting to 207 million shares will be listed directly without offering its shares for public subscription. The founders will also be allowed to sell and trade no more than 30% of their shares in the company’s capital upon listing, provided that they retain 60% of their shares in the company’s capital.
The shares of Al-Mahar Company will be listed with the symbol (MHAR) in the emerging companies market, and the guiding or reference price for the share has been determined at a value of 2 Qatari riyals (1 Qatari riyal nominal value + 1 Qatari riyal issuance premium) based on the documents submitted by the company, and the company's share price will be floating On the first day of listing, while starting from the second day, the price will be allowed to fluctuate by 10%, up and down, as is the case for other companies listed in the market.
It should also be noted that there will be no change in the trading session date for the day of listing, and the pre-opening time will remain as usual at 9:00 am.
The company's shareholder data will be available to the brokerage firms as of Sunday, June 4, 2023, in preparation for trading their shares, so that, as of that date, shareholders can review the brokerage firms directly to deliver buy or sell orders.
The Qatar Stock Exchange would like to draw the attention of investors to the importance of viewing the listing prospectus of Al-Mahar Holding Company, which is available on both the stock exchange and the company's websites.
It is noteworthy that Al-Mahar Holding Company has been operating in the Qatari market since 1989 through its wholly owned subsidiary, Petroleum Technology Company (Petrotech) W.L.L. to enhance the level of support provided to the energy sector. Since then, the group's activity has evolved into diversified activities through eleven subsidiaries, in the State of Qatar and Kuwait, through selling equipment and spare parts, providing rental equipment for the energy and infrastructure sectors in Qatar, in addition to providing maintenance, repair and renewal services for the energy and infrastructure sectors.