Qatar Electronic Systems Company (Techno Q) – a leading systems integrator in audiovisual, lighting systems and business solutions – will today start trading on the Qatar Stock Exchange’s Venture Market (QEVM).
With this, the number of companies listed on the QEVM will become two. Since its inception, the junior bourse has seen listing of three entities, the two of which later got shifted to the main market.
As many as 84.5mn shares of Techno Q are being listed through direct listing (without offering shares for public subscription). It will be listed with the symbol "TQES".
The reference price for the share has been set at QR2.9 (including QR1.9 premium), based on the company's documents. Market capitalisation is QR245.05mn at listing valuation.
On the first day of listing, the company’s price will be floated, while from the second day, the price will be allowed to fluctuate by 10%, up or down, as is the case for other companies listed on the market.
The company is aiming at QR1bn revenues for which it has chalked out multi-pronged strategies, which includes acquisitions and joint ventures as well as expanding and strengthening overseas operations.
It is increasing efforts on the group’s expansion strategy to neighbouring markets, mainly Saudi Arabia, where the group established a 100% owned subsidiary at the beginning of 2023 to focus on AV, ELV and hospitality related projects, as well as Oman, where the group holds 98% equity interest in QIS to focus on similar projects in this neighbouring country.
In 2023, the company reported revenues of QR269.4mn at a compound annual growth rate of 17.1% over the past three years, and net income of QR19.7mn. As per its listing prospectus, revenues were QR330.92mn in 2022 with a vast majority of it coming from projects.
Techno Q was established in Qatar in 1996 operating in the AV, hospitality and lighting segment through its own operation and in the ELV and security systems segment through its fully owned subsidiary Techno Q Security Systems.
Over its 28 years of operations, the group’s portfolio include the design and execution of cutting-edge race electronics for a premier international racing competition in Qatar, the creation and setup of sophisticated security access control systems for a number of football stadiums for a globally recognised sporting event, and the supply and installation of a comprehensive CCTV and Access Control Systems for Qatar’s largest hospital.
