Qatar Stock Exchange announced the listing of Qatar Electronic Systems Company – Techno Q.P.S.C. (Q.P.S.C.) in the Second Market (Emerging Companies Market) of Qatar Stock Exchange, starting today, Wednesday, June 26, 2024, after completing all technical, regulatory and administrative procedures and obtaining the approval of the Qatar Financial Markets Authority for the listing, and the approval of the Board of Directors of the Stock Exchange to accept trading in the company’s shares, bringing the total number of companies whose shares have been listed in the emerging companies market to four companies since the opening of the market in 2021.
All of the company’s shares, with a capital of 84.5 million shares, will be listed directly without offering its shares for public subscription. Companies applying for listing in the second market are required to have at least 20 shareholders other than the founders who own no less than 10% of the company’s capital upon listing. The founders are also allowed to sell and trade a percentage not exceeding 30% of their shares in the company’s capital upon listing, provided that they retain 60% of their shares in the company’s capital. Qatar Electronic Systems Company – Techno Q.P.S.C. (Q.P.S.C.) will be listed under the symbol (TQES) on the emerging companies market, and the indicative or reference price for the share has been set at QAR 2.9 (QAR 1 nominal value + QAR 1.9 issue premium) based on the documents submitted by the company. 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, similar to other companies listed on the market.
