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Satyendra Pathak
Doha
The Qatar Stock Exchange (QSE) is expected to see listings of two new companies in 2017, a top official of the exchange has said.
Talking to reporters on the sidelines of the second annual IR Excellence Programme awards ceremony in Doha on Monday, QSE Chief Executive Officer Rashid al Mansoori said that the new listings are expected to take place in the second half of the current financial year.
Mansoori, however, did not reveal the names of the companies that are expected to be listed.
He said,"Now there is a growing interest among family-owned businesses in Qatar to go public. We might see some of them list on the exchange."
Talking about the listings of the much awaited two exchange traded funds (ETFs) on the QSE, he said,"We are in the final stages of listing these two ETFs. We might see the listings by the end of June."
Once the ETFs are listed, Mansoori said, the exchange would start the process of allowing short-selling in certain stocks.
"Short-selling is very much on the cards. The process of short-selling will begin with ETFs and later it will be allowed in some other stocks. We hope that it will be implemented by the end of this year," he said.
Asked if QSE was planning to introduce T+2 settlement on the lines of Saudi Stock Exchange to attract more foreign investment, he said,"We have no such plans at the moment."
Mansoori, however, revealed that the exchange will be holding a road show in the United States of America (USA) this year to showcase the benefits of investing in companies listed on the exchange.
The roadshow, which is aimed at attracting foreign investors to QSE-listed firms, is expected to be held in May.
"The roadshow will be an opportunity for dialogue between international investment institutions and Qatari-listed companies," he said.
Commenting on the upcoming roadshow, Doha Bank Group CEO R Seetharaman said that the roadshow would be an opportunity for the Qatari-listed companies like Doha Bank to work alongside the global investment community and benefit from the upgrade to an emerging market status.
He said,"Despite Qatar being a success story on the global level, its stock exchange is yet to receive the desired foreign fund inflows. The roadshow will play a vital role in showcasing Qatar's economic progress among foreign investors."
