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Qatar Stock Exchange announces Mekdam Holding Group transfer to main market

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The Qatar Stock Exchange (QSE) announced yesterday that, in view of the approval given by Qatar Financial Markets Authority “QFMA”, the shares of “Mekdam Holding Group” (“Mekdam”) will be transferred from Venture Market (QEVM) to the main market in QSE as of Monday, January 02, 2023, after completing all the necessary technical and administrative procedures. As a result, the number of the listed companies in the main market will increase to become (48) companies.

It pointed out that “Mekdam Holding Group” will become the first company to be transferred from the Venture Market (“QEVM”) to the main market in accordance with the new listing and offering rulebook which came into force recently starting the 1st of April, 2021. The new rulebook includes a set of new rules and procedures that aim to attract more companies and provide more alternatives for companies seeking to list in the market.

The QSE explained that the “Mekdam” Name, the Symbol (MKDM) and the International Identification Number (ISIN) will all remain unchanged and it will be traded in the same manner as those on the main market as the price limits, and trading session times on the company’s shares.

The reference price for the company’s shares of the first trading session will be determined based on the closing price of its shares in the trading session Thursday, December 29, 2022, pointing out that QSE will cancel all the orders on Mekdam shares (MKDM) in the order book after the trading session on Thursday, December 29, 2022. Therefore, the responsibility for re-entering the canceled orders will be on the brokerage firms. It is worth mentioning that Mekdam Holding Company will be in the sector of Consumer Goods & Services.

The QSE would like to take this opportunity to extend its deep gratitude and appreciation to the QFMA for its continuous support and efforts to develop the Qatari market regulations.

Source and image credit: The Peninsula.