Dukhan Bank to List its Shares through QSE
Doha, February 05 (QNA) – Dukhan Bank confirmed Sunday that it has obtained required regulatory approvals from the Qatar Financial Markets Authority (QFMA), the Qatar Central Bank (QCB) and the Qatar Stock Exchange (QSE) for direct listing of Share Capital of the Bank on the main market of the QSE and publication of its Listing Document (Prospectus).
The Bank proposes that trading of the shares will commence on Feb. 21, 2023.
With assets in excess of QR 100 billion, Dukhan Bank is the third largest Islamic bank in Qatar.
The capital of the Bank upon listing will be QR 5,234,100,000, divided into 5,234,100,000 shares with each share having a nominal value of QR 1.
The approved price of the shares upon listing is QR 4.35 per share, made up of QR 1 per share of nominal value and QR 3.35 per share premium.
The listing price per share results in a market capitalization of QR 22,768,335,000 at the listing valuation.
Commenting on the occasion, HE Chairman and Managing Director of Dukhan Bank Sheikh Mohammed bin Hamad bin Jassim Al-Thani, said: “We are delighted to confirm our proposed listing plans, which are in line with our overall strategy and supported by our shareholders. We believe that the direct listing will offer attractive levels of trading liquidity and provide an opportunity for qualified investors and niche clients to join the ongoing growth journey of the Bank.”
The Bank was incorporated in 2008 under the name of Barwa Bank Q.P.S.C, and commenced operations in 2009 as a full-service Sharia Compliant bank. The Bank rebranded itself under the name of Dukhan Bank Q.P.S.C. in October 2020, following the merger with International Bank of Qatar (IBQ) in 2019. (QNA)