Tribune News Network
Doha
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 January 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.
This 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.
The Qatar Stock Exchange (QSE) takes this opportunity to express its thanks to the Qatar Financial Markets Authority for its continuous support and efforts to develop the rules and regulations applicable inthe market.
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.
The MEEZA intends to carry out the offering process in two stages by first offering shares to qualified investors through the book-building process that will commence on January 15, 2023, and will end on January 26, 2023.
Secondly 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 February 12, 2023, until February 23, 2023.
The MEEZA clarified that the price range of the company’s shares has been set between QR2.61 and QR2.81 and is composed of a nominal value of QR1 per share, an issuance premium ranging from QR1.6 to QR1.8 per share; and offering and IPO fees of QR0.01per share.
MEEZA and the listing advisor appointed by QInvest will announce on their website the relevant details.
