Al Mahhar Holding To Be Public Shareholding Company| MENAFN.COM

Monday, 06 February 2023 12:40 GMT

Al Mahhar Holding To Be Public Shareholding Company


(MENAFN- The Peninsula) The Peninsula Online

Al Mahhar Holding Company WLL (“Al Mahhar” or the“Company”) is pleased to announce the conclusion of its Extraordinary General Assembly held on January 23, at which the shareholders approved the Company's application for conversion from a Qatari limited liability company into a Qatari public shareholding company.

The conversion contemplates a potential listing on the Venture Market of the Qatar Stock Exchange subject to obtaining all requisite regulatory approvals.

Al Mahhar Holding Company WLL is one of the leading service providers for the energy and infrastructure sectors in the State of Qatar. The Company began operations in Qatar in 1989, initially conducting business through its fully owned subsidiary, Petroleum Technology Company W.L.L. (“Petrotec”), providing an enhanced level of support to the energy sector and taking part in the rapid growth and success of Qatar's hydro-carbon sector.

Since then, Al Mahhar has expanded into a diversified business group of 10 different subsidiaries, joint ventures and associates (including Petrotec) operating at different levels of the energy and infrastructure sectors in the States of Qatar and Kuwait.

The Company's major revenue sources are derived from providing clients in Qatar with comprehensive specialized engineering products, services and maintenance support and local input to players in Qatar's energy market for both the upstream and downstream industries.

Other sources of revenue include con-struction related equipment sales and rentals as well as locally designed and manufactured electrical switchgear equipment.

Further information and details on Al Mahhar's potential listing on the Venture Market of the Qatar Stock Exchange in the future will be provided subject to the relevant approvals being obtained from the regulatory authorities.

Deloitte & Touche - Qatar Branch is appointed as Listing Advisor, Maroon Capital Advisory LLC as Strategic Advisor to the Company, Eversheds Sutherland (International) LLP as Interna-tional Legal Advisor and Sharq Law Firm as Qatar Legal Advisor. Al Mahhar Holding Company WLL is registered under commercial registration number 64325 and has its registered office address at Suite 203 - D, Jaidah Square, Airport Road, Doha, Qatar, PO Box 16069.

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