(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha, Qatar: Qatar Electronic Systems Company - Techno Q listed its shares on the Qatar stock exchange Venture market (QEVM) in the presence of several officials from the Qatar Stock Exchange (QSE), Techno Q, and Qatar financial Center, at the QSE headquarters yesterday.
With this listing by Techno Q, QEVM has surged to four companies since the inception of the market three years ago.
Speaking to The Peninsula on the sidelines of the ceremony, Zeyad Al Jaidah, Managing Director & Co-founder of Techno Q, remarked that listing is a significant milestone for the firm in the venture market.
He said:“We have been looking forward to this moment for the last ten to twelve years. Since we started doing bigger projects, we realised that the only way in the future whether inside or outside Qatar is by being listed in the stock market.
Al Jaidah noted that Techno Q is optimistic about working with corporate governance and impacting clients, which serves as an advantage in being listed.
“As a technology company, we feel that being in the stock market gives the investor a window to invest in the future technology,” he said adding that individuals will keenly explore opportunities in the cloud migration, IT services, and emerging technologies.
In a press statement, Abdul Aziz Nasser Al Emadi, Acting CEO of the Qatar Stock Exchange, said:“The listing of this company will increase the depth of the market and unlock opportunities to expand our investor base and access to capital while providing investors with the opportunity to invest in leading Qatari companies.”
He further commented that“We have successfully listed four companies, achieving a remarkable growth rate of one listing each year, since the establishment of the QEVM in 2021. This achievement is a testament to our continuous efforts to enhance the market's vibrancy and accessibility. Additionally, the introduction of the Qatar Exchange Venture Market (QEVM) Listing Cost Financing Program, which is a joint initiative between QSE and Qatar Development Bank (QDB) has generated significant interest, with numerous applications lined up for both the main and venture markets. As we move forward, our commitment to fostering a robust financial ecosystem”.
Abdulla Al Ansari, Chief Executive Officer & Co-founder of Techno Q, stated:“We are grateful for the support of our team, partners, and clients who have been instrumental in our success, and we look forward to achieving even greater milestones together as we focus on developing our services and products. As only the fourth company to list on the Qatar Exchange Venture Market, we understand the task at hand, but our Techno Q DNA demonstrates we are prepared to take on the challenge of this new chapter.”
The shares of Techno Q were listed through the 'Direct Listing' mechanism, a standard mechanism in all regional markets, which permits entities to be listed without an IPO.
MENAFN27062024000063011010ID1108379021
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.