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Today, Sunday, December 16, 2018, Qatar Alumnium Manufacturing Company “QAMCO” was listed on Qatar Stock Exchange (QSE) to raise the number of listed companies to 46. The ceremony was attended by HE Minister of State for Energy Affairs and Managing Director and Chief Executive Officer of Qatar Petroleum Eng. Saad bin Sherida Al Kaabi. The ceremony was also attended by a number of senior officials in the field of energy, finance and investments.
H.E. the Minister accompanied by guests, rang the trading session opening bell to celebrate the listing of the company and announce the start of trading of its shares. He strassed that the listing of QAMCO is part of the keenness of the wise leadership to provide investment opportunities for Qatari citizens and enhance their participation in economic activity in the country.
This investment opportunity has given Qataris a valuable opportunity to participate in the success of one of the region's largest and most competitive aluminum producers, and one of Qatar's most successful projects in the manufacturing sector. Thus, the listing of QAMCO shares will provide an opportunity for citizens to benefit from the investment opportunities and diversity offered by the Qatar Stock Exchange," said Al Kaabi.
H.E Al-Kaabi expressed his thanks and appreciation for the efforts made by the Qatar Stock Exchange to facilitate the listing of the company's shares and added that “this listing will support the diversity of Qatari capital market in line with the State’s economic vision."
Mr. Rashid bin Ali Al-Mansoori, CEO of Qatar Stock Exchange, expressed his pleasure and welcome to the listing of Qatar Aluminum Manufacturing Company and said: “We are pleased to welcome QAMCO into the family of listed companies. The listing of QAMCO will increase exchange depth and brings new opportunities and additional choice to the investing public.”
"The listing of QAMCO is an important step in the implementation of the Qatar’s National Vision, and another step in achieving economic diversification and providing a real opportunity to all citizens to benefit directly from economic growth and the boom in the industrial sector," Al-Mansoori said.
"The listing derives its significance from several factors; the first factor is the wise and prudent leadership and vision of His Highness the Emir, focusing on several initiatives to encourage long term investments; the second factor is the great confidence that the company will be a new Qatari success story in the industrial sector. The third factor is the success of the IPO and heavy public partcipation in the IPO; and the fourth factor is the role of the company in strengthening and stimulating the capital market,” Al-Mansoori added.
The opening price of QAMCO at the beginning of trading was QAR 18.00. The stock then took a bullish trend to reach QAR 18.90 and then closed at QAR 13.01. The number of transactions executed during this trading session on QAMCO shares was 21,447 transactions, and the total number of shares traded amounted to 23,210,318 shares, with a total trading value of 323,813,409.82 Qatari riyals.
The objects of the Company are 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 metal products including aluminum, practicing and implementing various aspects and stages of activities related to minerals and mining, including the development of supply chains and products. All industries and services that are directly and / or indirectly related to its business and activities or to obtain such services for the purposes of the Company.
