(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: The Qatar stock exchange (QSE) is pleased to announce that the shares of MEEZA QSTP LLC (Public) will be admitted to trading on the QSE's main market starting from Wednesday, August 23, 2023. This follows the approvals obtained from the Qatar financial Markets Authority (QFMA) and the QSE's board, as well as the completion of all necessary technical, regulatory, and administrative procedures. With the listing of MEEZA, the total number of companies listed on the QSE main market will increase to 51.
All 648,890,000 shares of MEEZA will be listed, representing 100% of the total capital of the company. It should be noted that 324,490,000 million shares were offered for subscription, representing 50% of the total capital of the company, and distributed as follows: 121,393,000 shares for qualified investors who participated in the book-building process, representing 18.71% of the company's capital, and 203,097,000 shares for Qatari individual and corporate investors, representing 31.29% of the company's capital. The founders will retain the remaining percentage of the shares, which amounts to 324,490,000 shares, representing 50% of the total capital of the company.
The offering of MEEZA shares was conducted through the 'Book Building' mechanism, which was used for the first time in Qatar. This mechanism used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.
On this occasion, Abdulaziz Nasser Al Emadi, the Acting CEO of the Qatar Stock Exchange, expressed his pleasure at the listing of MEEZA on the Qatar Stock Exchange Main Market (QEMM) through the 'Book Building' mechanism, which is being employed for the first time on the Qatar Stock Exchange. This approach aligns with practices adopted in various global and regional markets.”
The shares of MEEZA will be listed with the symbol“MEZA” in QSE main market under the consumer goods & services sector. The offering price has been set at QR2.17, consisting of a nominal value of QR1.00 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company.
On the first day of listing, the company's price will be floated, and starting from the second day, it will be allowed to fluctuate by 10% up or down, similar to other listed companies in the market.
There will be no change in the trading session timing on the first day of listing, and the pre-open phase will commence at the usual time of 9:00 am. Starting from Sunday, August 20, 2023, the shareholder data of the company will be made available to brokerage firms. Shareholders and investors can then directly submit their buy or sell orders to their respective brokers from that date
onwards.
MEEZA is an established end-to-end Managed IT Services and Solutions provider based in Qatar that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions. MEEZA's offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence.
The company has Five Tier III certified Data Centers, known as M-VAULTs offering a guaranteed uptime of 99.98% built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks. MEEZA simplifies IT operations, enhances efficiency, and supports the digital transformation journey for government entities and businesses in Qatar.