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8 May 2013

QATAR ENCOURAGES PRIVATE COMPANIES TO GO PUBLIC

Qatar Exchange Event under the patronage and presence of H.E. Sheikh Hamad Bin Jassim bin Jabr Al Thani, the Prime Minister and Foreign Minister hosted an event ‘Listing of Private Companies; Supporting Qatar’s National Vision’ in Doha on Wednesday 8 May 2013.  

His Excellency the Prime Minister addressed the keynote speech at the event delivering a key message that it is time for private companies in Qatar to go public.

The event covered many discussions on the various aspects of the transformation process, listing on the Qatar Exchange, including the benefits and incentives and highlighting other obstacles that can restrict the process. Companies that have been successfully been transformed into public shareholdings companies and listed on the Qatar Exchange were highlighted during the event.  The development of the private sector in Qatar has been anticipated for some time and this timely announcement by the Prime Minster coincides with the recent proposed changes to New Companies Law, the new Qatar Central Bank Law and the impeding changes to the Qatar Financial Markets Authority (QFMA) Law.

The Prime Minister foresees the market picking up momentum and forecasts a flurry of IPO activity in the not too distant future – supporting Qatar’s National Vision of reaching sustainable development and building a diversified economy.  At present there are only 42 companies listed at the Qatar Exchange.

Al Tamimi & Company Qatar office will be hosting an IPO event in the fourth quarter of 2013 in Doha.