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Shares of Qatar Electronic Systems Company (Techno Q) will trade on the Qatar Stock Exchange’s (QSE) Venture’s Market (QEVM) from June 26.
Shares amounting to 84.5 million will be listed through a direct listing, without offering shares for public subscription. Companies applying for listing in the QEVM are required to have at least 20 non-founding shareholders who own no less than 10% of the company’s capital upon listing.
The founders will also be allowed to sell and trade no more than 30% of their shares in the company’s capital upon listing, provided they retain 60% of their shares in the company’s capital.
The reference price for the share has been set at 2.9 Qatari riyals ($0.79). Starting from the second day, the price will be allowed to fluctuate by 10%.
Techno Q was established in Qatar in 1996 operating in the AV, hospitality and lighting segment.
With this listing, the number of companies listed on the QEVM has increased to four companies since the inception of the market in 2021.
(Writing by Bindu Rai, editing by Daniel Luiz)
