In the presence of a number of distinguished guests, investors and interested parties, the shares of Al-Mahar Holding Company were listed yesterday for trading in the second market of the Qatar Stock Exchange (the emerging companies market), bringing the number of companies listed in the emerging companies market to two companies.
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.
Al-Mahar Holding Company was listed through the “direct listing” mechanism, which is a common mechanism in all markets in the region, allowing companies to be listed without making an initial public offering of their shares.
Mr. Abdulaziz Nasser Al-Emadi, Acting CEO of the Qatar Stock Exchange, expressed his welcome to the listing of Al-Mahar Holding Company on the Qatar Stock Exchange through the direct listing mechanism after its approval by the regulatory and supervisory authorities.
He said, “The listing of this company constitutes a new addition that will increase the depth of the market and provide investors with a new opportunity and an additional option to what is available on the Qatar Stock Exchange of companies representing various sectors.”
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.
The shares of Al-Mahar Holding Company were listed yesterday with the symbol “MHAR” in the emerging companies market, where the company’s share price was floated on the first trading day. The lowest price is 2,600 riyals.
Starting from the second day of trading the company’s shares, the price is 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 brokerage firms as of Sunday, June 4, 2023, in preparation for trading their shares, as shareholders were able, as of that date, to review brokerage firms directly to deliver buy or sell orders.
