Mr. Rashid Bin Ali Al Mansoori, CEO of Qatar Stock Exchange underlined the importance of the QE Venture Market as a supporting tool for the development of the SME’s through providing less stringent requirements than those imposed on companies listed on the main market.
In a speech he delivered in the Qatar Chamber 1st SME’s Conference held in the Doha Four Seasons Hotel today, Mr. Al Mansoori said that: “Qatar Stock Exchange recognises the importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output. Qatar Stock Exchange has therefore developed QE Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Stock Exchange at the centre of the government’s on-going support for this important sector”.
Mr. Al Mansoori recalled several stories of success where SME’s could improve and develop to become giant companies playing important roles in the economies of their countries. He called for encouraging other Qatari SME’s to grow and play a similar role. “The characteristics of the QE Venture Market reflect the objectives of allowing SMEs to list and raise capital more easily and cheaply and with less stringent requirements than would be the case on the Main Market whilst also retaining the trust of the investor base through a structured regulatory framework”, he said..
“Given the challenging environment for financing SMEs the need for thought-out and innovative exchange solutions for SMEs is more apparent than ever”, he added.
Mr Al Mansoori commended the development the QSE witnessed since its establishment in 1997 to become the second largest stock market in the region after the Saudi Market. “Qatar Stock Exchange has seen in 2014 a tremendous increase in trading volumes following its upgrade in the MSCI to Emerging market and the listing of Mesaieed Company for trading on the exchange”, he said.
“We are presently working with a short-list of companies who have appointed advisors and who we hope will, subject to the approval of the regulators, form our launch candidates in the coming years. One area of additional interest and concrete progress has been our association with QDB in assisting the Qatari SMEs with some of the fees associated with listing. Together we offer individual candidate companies help with the fees payable to Listing Advisors of up to US$ 100,000 and we encourage you to investigate this option” Mr. Al Mansoori said.
Noting that QSE has worked with the regulator (QFMA) to provide the legal framework for listing on this market, Mr. Al Mansoori said that the QE Venture Market will be open as well for the listing of regional and international small and medium size ventures.