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The Qatar Stock Exchange (QSE) announced that the shares of Al Faleh Educational Holding Company (“Al Faleh”) will be admitted to trading in the market as of Tuesday, April 13, 2021, after completing all the necessary technical and administrative procedures. Al Faleh Educational Holding Company will become the first company to be listed on QSE Venture Market (“QEVM”) dedicated for SME’s.
Al Faleh will be traded in the same manner as those on the main market in terms of order types, corporate actions and Settlement/ Clearing arrangements. Pricing of Al Faleh securities is exactly the same as pricing mechanism of the stocks listed on the main market. Investors do not need to obtain new investor number to trade in Al Faleh shares since no new investor numbers (NIN’s) are required to be issued for the investors who have already existing numbers. The orders in the QEVM are executed through the brokers licensed by QFMA.
The shares of Al Faleh will be listed with the symbol “FALH”. The company's share price will be floated on the first day of trading, while it will be allowed to fluctuate by 10% up and down starting from the second day of trading of the company's shares. The founders’ data will be made available to the brokerage firms as of Sunday 11/04/2021 in preparation for trading of the company’s shares in order to allow them to receive buy and sell orders. The company will be listed in the second market using the direct listing option.
There will be no change in the timing of the trading session on the listing day. Brokerage firms will be allowed to enter buy and sell orders on the company's shares for the pre-open period, as is usual at 9:00 AM.
The QEVM will follow the same continuous trading pattern as the main market. The tick sizes for the QEVM Equities will be as same as those for the main market. The stock quotes of the QEVM will be broadcasted on a separate market watch at QSE website and independent from the main market screens. Trading volumes and other relevant data for the QEVM will be reported on the QSE website on a daily basis.
Rashid bin Ali Al Mansoori, CEO of the Qatar Stock Exchange, said: “the QE Venture Market (QEVM) will provide a listing and trading venue for SME’s that do not fulfil listing requirement of the main market. The QEVM provides an alternative route to market for the SME’s who need the access to capital that being listed entails.”
The launch of the new market comes within the framework of QSE’s vision and strategy aimed at diversifying investment options and products available to individual and institutional investors.” He stressed QSE’s pioneering role in providing financing and expansion opportunities for growing Qatari SME’s, in line with Qatar National Vision 2030 and the State’s economic diversification policy, Al-Mansoori added.
The QEVM provides SME’s with many advantages as it allows them to diversify sources of funding through access to permanent equity capital whilst offering liquidity to financial, family or minority shareholders as well as visibility, Al-Mansoori explained.
The QEVM is characterized by the flexibility of the listing requirements which suit smaller entrepreneurial companies with a more limited track record and fewer resources to meet the heightened investor relations and corporate governance practices demanded in the Main Market, Al-Mansoori added.
Mr. Abdulaziz Nasser Al-Emadi, Director of QSE’s Listing Department, welcomed the listing of the Al Faleh Educational Company in QEVM and the launch of the QEVM. He also stressed his confidence that further companies will join the QEVM in the coming period and indicated that the companies eligible to join the QEVM should have an issued capital not below QR 2, and number of shareholders not less than 20 who own no less than 10% of its capital upon the listing.
The launch of the new market is the result of the strategic initiatives and intense efforts made by the QSE over the past years to develop Qatar’s capital market through continuous consultations with private and family-owned companies to identify their needs and offer them suitable solutions and incentives for listing in the market, Al-Emadi added.
Al Faleh Educational Company was established on May 1, 2015, with authorized and issued capital of QR 240 million, as a public shareholding company under incorporation, which is 100% fully paid. The most important objectives of Al-Faleh Educational Company is to provide educational services that apply international standards across all educational levels, from kindergarten to higher education.
To view Financial Statement, click here
