The Qatar Stock Exchange (QSE) Thursday said all the procedures have been completed for the listing of Mekdam Holding Group, which will be the second entity to get listed on the venture market or QEVM.
“Co-ordination is currently taking place between the QSE and the Qatar Financial Market Authority to determine the appropriate time for the market to list the shares of Mekdam Holding Group, as all the necessary procedures for listing have been completed,” QSE chief executive Rashid bin Ali al-Mansoori said in a tweet.
The company, which was assigned 'gcBBB-' Gulf regional rating by Standard & Poor's in March this year, will be included in the market for small and medium enterprises. Its listing comes after Al Faleh Educational Holding Company got listed on the QEVM in April this year.
Mekdam Holding Group – whose subsidiaries are Mekdam Technology, Mekdam Technical Services and Mekdam Cams – generated revenues of QR168.7mn and Ebitda, or earnings before interest, taxes, depreciation and amortisation, of QR26.8mn in 2020.
Mekdam Technology accounted for 55% of 2020 group revenue and 42% of Ebitda; Mekdam Technical Services (28% and 24%) and Mekdam Cams (8% and 28%).
"The company benefits from strong partnerships with international solution providers, good cash flow visibility, and a relatively flexible cost structure," S&P said.
At a recently held webinar, al-Mansoori had said efforts are being made to enhance the listings by raising awareness of the advantages of becoming public.
In January 2012, the bourse established a separate stand-alone QEVM, stipulating eased entry norms as well as lower capital base and shareholders, but made mandatory liquidity provider and perpetual services of listing adviser.
The QEVM is aimed at small and medium sized family and private companies and provides them with an access to capital market and enables them diversify their source of financing, achieve the sustainability, growth and expansion.
The companies eligible to join the QEVM should have an issued capital not below QR2mn, and number of shareholders not less than 20 who own no less than 10% of its capital upon the listing.
The new market is the result of the strategic initiatives and efforts made by the QSE over the past years to develop Qatar’s capital market through continuous consultations with private and family-owned companies to identify their needs and offer them suitable solutions and incentives for listing in the market.
The Qatar Capital Market 2020 report, prepared by the Qatar Financial Center, had said the QEVM serves as a dedicated stock exchange for SME listings, which, despite possessing possibly shorter track records and higher risk profiles, allows them to access funding through the equity capital market.
“Co-ordination is currently taking place between the QSE and the Qatar Financial Market Authority to determine the appropriate time for the market to list the shares of Mekdam Holding Group, as all the necessary procedures for listing have been completed,” QSE chief executive Rashid bin Ali al-Mansoori said in a tweet.
The company, which was assigned 'gcBBB-' Gulf regional rating by Standard & Poor's in March this year, will be included in the market for small and medium enterprises. Its listing comes after Al Faleh Educational Holding Company got listed on the QEVM in April this year.
Mekdam Holding Group – whose subsidiaries are Mekdam Technology, Mekdam Technical Services and Mekdam Cams – generated revenues of QR168.7mn and Ebitda, or earnings before interest, taxes, depreciation and amortisation, of QR26.8mn in 2020.
Mekdam Technology accounted for 55% of 2020 group revenue and 42% of Ebitda; Mekdam Technical Services (28% and 24%) and Mekdam Cams (8% and 28%).
"The company benefits from strong partnerships with international solution providers, good cash flow visibility, and a relatively flexible cost structure," S&P said.
At a recently held webinar, al-Mansoori had said efforts are being made to enhance the listings by raising awareness of the advantages of becoming public.
In January 2012, the bourse established a separate stand-alone QEVM, stipulating eased entry norms as well as lower capital base and shareholders, but made mandatory liquidity provider and perpetual services of listing adviser.
The QEVM is aimed at small and medium sized family and private companies and provides them with an access to capital market and enables them diversify their source of financing, achieve the sustainability, growth and expansion.
The companies eligible to join the QEVM should have an issued capital not below QR2mn, and number of shareholders not less than 20 who own no less than 10% of its capital upon the listing.
The new market is the result of the strategic initiatives and efforts made by the QSE over the past years to develop Qatar’s capital market through continuous consultations with private and family-owned companies to identify their needs and offer them suitable solutions and incentives for listing in the market.
The Qatar Capital Market 2020 report, prepared by the Qatar Financial Center, had said the QEVM serves as a dedicated stock exchange for SME listings, which, despite possessing possibly shorter track records and higher risk profiles, allows them to access funding through the equity capital market.
