Mekdam Holding Group Monday started trading on the main market of the Qatar Stock Exchange (QSE), thus taking the total number of listed entities to 48.
The company has been listed under the consumer goods and services sector, which already has 10 constituents. Its name and the symbol (MKDM) and the International Identification Number (ISIN) will remain unchanged.
Mekdam became the first company to be transferred from the venture market to the main market. At present, the venture market has a lone constituent Al Faleh Educational Holding.
A total of 212,813 Mekdam shares worth QR1.61mn changed hands across 144 deals. Opening at QR7.62 a piece, Mekdam shares touched an intraday high of QR7.75 before winding up at QR7.57, which was 0.66% lower from the previous day's close. Mekdam’s 52-week high and low was at QR11.3 and QR6.04 respectively.
Mekdam Holding is a comprehensive service and solution provider of ICT (information, communication and technology), mechanical and electrical engineering, and operation and maintenance services.
Net profit stood at QR21.18mn on revenues of QR363.08mn at the end of nine-month period ended September 2022.
The company was established as a limited liability company under Commercial Registration No 115142 under the name as Mekdam Holding Group on March 29, 2018. It was converted into a Qatari public shareholding company, according to the Ministry of Commerce and Industry Decision No U.U./2021/73 dated January 14, 2021.The company's capital amounted to QR68mn divided into 68mn common shares with nominal value of each share of QR1.
Mekdam Holding was able to sign new contracts with a total value of QR1.22bn, which exceeded the annual target for 2022. The board was also briefed on the total value of the contracts being implemented, which amounted to QR2.09bn, while the value of the remaining works stood at QR1.49bn.
With respect to the sales proposals, the total offers submitted and being negotiated with customers amounted to about QR2.04bn. The expected success rate, according to historical indicators, ranges from 20% to 30%. The customer retention rate was around 90%.
