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Qatar's QSE records five indirect acquisitions valued at $160.16mln in 2024
QSE-listed companies witnessed five indirect acquisitions valued at QR583mn during 2024 with a vast majority of them overseas, according to the official data.
The Qatar Stock Exchange (QSE) listed companies witnessed five indirect acquisitions valued at QR583mn during 2024 with a vast majority of them overseas, according to the official data.
'During 2024, five acquisitions were completed worth QR583mn. Such transactions varied between indirect acquisitions inside and outside Qatar, and included many sectors such as industrials, transportation, banks and financial services,' the Qatar Financial Market Authority (QFMA) said in its latest annual report.
Of the five acquisitions, three were indirect inside the country and valued at QR43mn (7% of the total) and were in the banks and financial services, industrials and transportation sectors; while the remaining 93% or QR540mn was for indirect acquisition overseas and in the banks and financial services/industrials sectors.
The QFMA, through Securities Offering and Listing Affairs Department as the competent department, receives applications for companies' offering and listing, and applications for acquisition and merger, in cooperation with the 'One Single Window Committee'.
It reviews the offering and listing prospectuses in addition to analysing the evaluation reports to verify the eligibility and worthiness of the companies applying for listing in the financial market and the requirements of acquisition and merger transactions, in a manner that ensures the transparency and disclosure required for investors to make their decisions properly.
During 2024, the QFMA had received five applications for issuing shares, of which four are still under process; while a decision is pending on another exchange traded fund (ETF) as well as on one real estate investment trust. The QSE already has two ETFs, sponsored by AlRayan Bank and Doha Bank.
During 2024, Al-Faleh Educational Holding Company moved from the venture market to the main market. All of the company's shares were listed with its capital of 240mn shares, bringing the number of companies listed on the main market to 52.
The QFMA approved the listing of Qatar Electronic Systems Company (Techno Q) on the QSE's venture market. All of the company's shares, with a capital of 84.5mn shares, worth QR245.05mn, were listed directly without offering its shares for public subscription. This listing comes as part of QFMA's efforts to enhance diversity in the market and increase investment opportunities for investors.
The listing of Techno-Q on the secondary market enables it to benefit from public funding and expand its investor base, in addition to enhancing transparency and financial disclosure in line with listing requirements.
During 2024, as many as 55 government debt instruments were listed, as treasury bills and debt bonds, with a total nominal value of QR51bn. During 2024, the QFMA also issued as many as 56 ISINs: 37 treasury bills, 18 debt bonds and one newly listed company. ISIN or International Securities Identification Number is a 12-character alphanumeric code that uniquely identifies a specific security.
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