Doha, January 08 (QNA) – MEEZA, a leading provider of end-to-end IT services in Qatar, will offer 50 percent of its capital to institutional and individual investors, starting from Jan.15, after obtaining Qatar Financial Markets Authority’s (QFMA) approval to commence the book-building process, which will be used for the first time in Qatar’s financial markets to determine the offering price of the company’s shares.

The offering process will be in two stages: Offering shares to qualified investors through the book-building process will commence on 15 January 2023 and will end on 26 January 2023.

Offering shares for public subscription to individual and institutional investors, which will be based on the price that is determined through the book-building mechanism, is expected to start on 12 February 2023 until 23 February 2023.

In a statement posted on the Qatar Stock Exchange on Sunday, MEEZA clarified that the price range of the company’s shares has been set between 2.61 QR and 2.81 QR and is composed of a nominal value of one (1) QR per share, an issuance premium ranging from 1.6 QR to 1.8 QR per share; and offering and IPO fees of QR 0.01 per share.

MEEZA and the listing advisor appointed by QInvest will announce on their website the relevant details.

The book-building process will follow QFMA’s Offering and Listing Regulations, which include a set of new procedures that would provide additional options for companies wishing to offer and list in the financial market, which was approved to enter into force on April 1, 2021.

The book-building mechanism is used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security. (QNA)

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