(MENAFN - The Peninsula) Qatar Exchange (QE) will list the Mesaieed Petrochemical Holding Company (MPHC) on Wednesday, February 26. The decision to list MPHC on QE resulted after the company has obtained the approval from the Qatar Financial Markets' Authority (QFMA) and fulfilled and complied with all necessary listing requirements, the bourse announced here yesterday.
With the listing of MPHC, the number of listed companies on QE will increase to 43
QE stated that listing of MPHC will be in the Industrial Sector with a ticker symbol MPHC. As usual, price flotation for MPHC will be permitted only for the first day of listing however; price fluctuation on the second day and thereafter will be permitted by 10 percent up/down as the case for all other listed companies
On first day of trading, the standard procedures of IPOs will apply. Brokerage companies will be permitted to enter any buy/sell orders for MPHC shares in the pre-open session at 8.30am for the listing morning day only. The pre-opening session for all other listed companies will remain as business usual at 9am
An official source at the Qatar Central Securities Depository said that the MPHC current shareholders' data (approximtely 199,000 shareholders) has been registered in the shareholders accounts at the QCSD which has provided the brokerage firms with special systems allowing them to know the shareholders numbers (NIN) and the number of shares allocated to them in order to facilitate trading process
The data will become available at the brokerage firms effective Sunday, February 23, 2014, so investors will be able to submit their buy/sell orders directly to the brokers as of that date
The MPHC's decision to go for a QR3.23bn initial public offering was announced by H E Dr Mohamed bin Saleh Al Sada, the Minister of Energy and Industry and H E Ali Sherif Al Emadi, Minister of Finance in December 2013. The IPO was open to all Qatari nationals and certain selected Qatari institutions. The subscription period was open from December 31, 2013 until January 21, 2014.
MPHC's authorised and issued capital amounts to QR12bn which 100 percent is paid up. MPHC's business activities include among others, to establish, manage, own, and/or hold shares, assets and interests in companies (and their subsidiaries and/or associated undertakings) engaged in all manner of processing and/or manufacturing of petrochemical products