Tribune News Network
Doha
Qatar Electronic Systems Company (Techno Q) on Wednesday successfully listed its shares on the Qatar stock exchange venture market (QEVM).
The listing ceremony was attended by several representatives from the company and Qatar’s financial market. With the listing of Techno Q, the number of companies that have been listed on the QEVM has increased to four companies since the inception of the market in 2021.
Techno Q was established in Qatar in 1996 operating in the AV, hospitality and lighting segment through its own operation and in the ELV and security systems segment through its fully owned subsidiary Techno Q Security Systems. The shares of Techno Q were listed through the “Direct Listing” mechanism, a common mechanism in all regional markets, which allows companies to be listed without an IPO.
On this occasion, Qatar Stock Exchange Acting CEO Abdul Aziz Nasser Al Emadi expressed his pleasure in listing Techno Q on QEVM through the direct listing mechanism.
He said, “The listing of this company will increase the depth of the market and unlock opportunities to expand our investor base and access to capital while providing investors with the opportunity to invest in leading Qatari companies. We have successfully listed four companies, achieving a remarkable growth rate of one listing each year, since the establishment of the QEVM in 2021. This achievement is a testament to our continuous efforts to enhance the market’s vibrancy and accessibility.”
Additionally, he said, “The introduction of Qatar Exchange Venture Market (QEVM) Listing Cost Financing Programme, which is a joint initiative between QSE and Qatar Development Bank (QDB) has generated significant interest, with numerous applications lined up for both the main and venture markets. As we move forward, our commitment to fostering a robust financial ecosystem.”
Techno Q Managing Director & Co-Founder Zeyad Al Jaidah said, “Techno Q’s listing on the Qatar Exchange Venture Market is a historic feat for our company, partners, and stakeholders. Our journey to becoming a regional systems integrator is a culmination of 28 years of planning, persistence, and passion. Today, we are seeing the fruits of this labor and we are committed to ensuring this next chapter in our story continues to showcase our dedication to quality and innovation.”
Techno Q Chief Executive Officer & Co-Founder Abdulla Al Ansari said, “We are grateful for the support of our team, partners, and clients who have been instrumental in our success, and we look forward to achieving even greater milestones together as we focus on developing our services and products. As only the fourth company to list on the Qatar Exchange Venture Market, we understand the task at hand, but our Techno Q DNA demonstrates we are prepared to take on the challenge of this new chapter.”
Techno Q shares were listed with the ticker TQES. The company’s share price was floated on the first trading day. The stock’s opening price was QR3.81 and the last transaction price was QR3.67. The highest price reached was QR4.20 during the trading session and the lowest price reached was QR3.48. Starting from the second day of trading, the stock price will be allowed to fluctuate by 10 percent up and down, as is the case for other companies listed on the market.
It is worth noting that the company’s shareholders’ data have been made available to the brokerage firms as of Sunday 23 June 2024, to enable shareholders to submit their buy/sell orders directly to the brokerage firms.
