Qatar Exchange (QE) announced that the listing of Mesaieed Petrochemical Holding Company (MPHC) will be Wednesday, February 26, 2014. The decision to list MPHC on QE resulted after the company has obtained the approval from the Qatar Financial Markets’ Authority (QFMA) and fulfilled and complied with all necessary listing requirements. With the listing of MPHC, the number of listed companies on QE will increase to 43.
QE stated that listing of MPHC will be in the Industrial Sector with a symbol MPHC. As usual, price floatation for MPHC will be permitted only for the first day of listing however; price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies.
On first day of trading, the standard procedures of IPOs will apply. Brokerage companies will be permitted to enter any buy/sell orders for MPHC shares in the pre-open session at 8:30 am for the listing morning day only. The pre-opening session for all other listed companies will remain as business usual at 9:00 a.m.
An official source at the Qatar Central Secutities Depository said that the MPHC current shareholders’ data (approx. 199,000 shareholders) has been registered in the shareholders accounts at the QCSD which has provided the brokerage firms with special systems allowing them to know the shareholders numbers (NIN) and the number of shares allocated to them in order to facilitate trading process.
The data will become available at the brokerage firms effective Sunday, February 23, 2014, so investors will be able to submit their buy/sell orders directly to the brokers as of that date.
Mesaieed Petrochemical Holding Company was established on May 29, 2013. The company’s authorized and issued capital amounts to QR 12 billion which 100% is paid up. MPHC’s business activities include among others, to establish, manage, own, and/or hold shares, assets and interests in companies (and their subsidiaries and/or associated undertakings) engaged in all manner of processing and/or manufacturing of petrochemical products.
