Ladies and Gentlemen,
I would like to welcome you today in this workshop organized by QE to announce the establishment of the QE Venture Market and the launch of its website. We thank you for devoting your time for the participation and your interest in QE's ongoing activities aimed at developing the Qatari financial market and offering a range of investment opportunities.
The establishment of the QE Venture market is viewed by us as a real manifestation of the Qatari Government’s commitment to the development and enhancement of the macro economy of the country and precise implementation of decisions taken by the Supreme Council for Economic Affairs and investment.
As Qatar Exchange recognizes the importance of the SME sector which globally provides the foundation for successful economies, wealth creation and increased output and after significant preparations, we are now pleased to announce the establishment of a special market dedicated for small and medium sized enterprises named “QE Venture Market”. The establishment of this market will enhance the role of these companies in supporting the national economy and in contributing to the achievement of Qatar National Vision 2030.
The characteristics of the market reflect the objectives of allowing SMEs to list and raise capital more easily and cost efficient ,with less stringent requirements than would be the case on the Main Market.
With the addition of the QE Venture Market to our listing opportunities, we are providing young and entrepreneurial companies a customized route to market to ensure they have access to the necessary funds to contribute to Qatar’s economy.
The criteria, set specifically for small and medium enterprises, are different from the currently-applicable requirements for listing companies in the main market. The establishment of a junior market will give SME owners the opportunity to be listed in Qatar Exchange under lighter and more flexible regulations, in addition to giving them access to further finance sources to grow and expand their businesses. At the same time offering investors more options through increasing the number of companies to invest their shares in.
In the coming months and years we hope to be working hard with all of you to ensure a pipeline of suitably qualified companies are able to come to market. It is expected that these companies will be SMEs from Qatar, the GCC and the MENA region.
Today’s workshop is only a first step in that process. We want to introduce to you the rules that will be applicable to this market in terms of listing and trading. Our colleague from the QFMA will furthermore introduce the current thinking regarding the applicable corporate governance. In the coming months and years, everybody in this room will be needed to ensure that the small and midsized companies can develop and grow, which might ultimately result in some of those companies listing on the QE Venture Market. The main measure of success will be the development of the SME sector in Qatar, to which the new QE Venture Market will be only one piece of the puzzle.
As you may have realized from my previous statement, the official name of the SME’s market will be “QE Venture Market” and in Arabic it will be “ Souk Al Sharikat Al Nashiaa”.
I also would like to unveil a new website for QE Venture Market (www.qe.com.qa/qeventuremarket) where issuers, investors and market professionals can be briefed on the market’s key features. All necessary information and the key contact points within Qatar Exchange are available. Once the market is actually launched, this website will also display the market information of this market.
The formation of this market is an important step in Qatar Exchange’s ongoing development, offering capital raising opportunities for issuers and a variety of investment alternatives for the retail and institutional investor base both domestically and internationally.
In this occasion, we would like to reconfirm the focus of Qatar Exchange to implement best international practices and achieving our strategy aimed at transforming the Qatari market to a world class exchange, endowed with strong domestic roots and inspired by the wise guidance of the Qatari government.
Lastly, I would like to thank again all of who have joined us today and I look forward to work with all of you to make this market a success. -Thank you
