Qatar- QFB listing to encourage other QFC firms to go public

4/25/2016 1:30:54 PM

(MENAFN- The Peninsula) By Sachin Kumar

DOHA: The listing of Qatar First Bank’s (QFB) shares on Qatar Exchange will encourage other Qatar Financial Centre (QFC) licensed companies to list on Qatari bourse. After fulfilling and complying with all necessary listing requirements the QFB is set to list on Qatar Exchange on Wednesday 27.

“This is a major milestone for Qatar Exchange because it is listing a QFC company and it will open the door for others to apply” said Rashid bin Ali Al Mansoori CEO of Qatar Exchange yesterday on the sidelines of an event held at its headquarters. “The sentiment is positive” he added.

Last week QFB had announced it got approval from the Qatar Financial Markets Authority (QFMA) to list shares on Qatari bourse. With the listing of QFB the number of listed companies on QE will increase to 44. It is the first listing of a Qatari entity licensed by the QFC and the first listing for a private entity in six years.

The Qatari bourse may see listing of Exchange Traded Funds (ETFs) in the near future as some funds have evinced interest to list.

“We know there are some funds interested in discussions (regarding listing) with us” said Al Mansoori.

He added that the process of listing of shares will be speeded up as the bourse has been given mandate to receive IPOs.

“All listings or IPOs has to come to stock exchange. The exchange has a committee and the committee consists of groups from QE and QFMA. It will work together to eliminate any thing coming between to make (listing) a very smooth process.

When it is approved by the committee it will only be a matter of days to get approval from QFMA because they are represented on the committee. The application review takes around one month” he added.

In March this year QE became the official party entitled to receive applications for public offering listing and admission to trading and to review these applications and check that they comply with the conditions and requirements of QFMA regulations and the QE rulebook.The Peninsula

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