Doha, April 06 (QNA) - Dr. Hussain Ali Al Abdulla, Chairman of the Qatar Exchange (QE) Board of Directors, stated that the shares of the Doha Global Investment Company (DGIC) will be offered to public subscription during May.
In a press release issued here Saturday, Ali Al Abdulla said that the DGIC will be listed for trading on Qatar Exchange following the completion of the subscription and the subsequent allocation processes, all the technical procedures and after obtaining the regulatory approvals required thereon.
Dr. Al Abdulla further said that the company's capital will be QR45bn, 50% of that will be paid up amount (twenty-two and a half billion Qatari riyals), and Qatar Holding will contribute 50% of the capital.
The Chairman of the Qatar Exchange Board of Directors stated that the IPO will be open only to Qatari companies, institutions and citizens, and the non-Qataris will be able to trade and buy in the company's shares after being listed on Qatar Exchange. The nominal value of the share will be QR10, five riyals of that are paid up, Dr. Al Abdulla added.
It is worth to mention that the DGIC was established in 1995, the Doha Securities Market (DSM) and officially commenced operations in May 1997. Since then the Exchange has grown to become one of the leading stock markets in the GCC region and for two consecutive years (2010, 2011), was the best performing stock Exchange in the GCC.
Following a strategic partnership agreement between Qatar Holding and NYSE Euronext in June 2009, the DSM was renamed the Qatar Exchange (QE).
It is noted that QE currently has 42 listed companies and its market capitalization is over QQ457bn ($127bn). The primary aim of QE is to support Qatar's economy by giving investors a platform through which they can trade fairly and efficiently. QE also provides the public with access to market information, ensures correct disclosure of information, and enforces securities regulations. (QNA)