OREANDA-NEWS. Qatar Stock Exchange (QSE) is pleased to announce that based on the approval of Qatar Financial Markets Authority (QFMA), the listing of Qatar First Bank (QFB) will be on Wednesday, April 27, 2016.  The decision to list QFB on QSE resulted after the bank has fulfilled and complied with all necessary listing requirements. With the listing of QFB, the number of listed companies on QSE will increase to 44.

QSE stated that listing of QFB will be in the Banking and Financial Services Sector with a symbol QFBQ. It is worth mentioning, the letter (Q) will be added to any QFC company admitted to trading in QSE. The reference price for the first day will be QR 15 with a fluctuation of 30% up/down which will be permitted only for the first day of listing however; price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies.

On first day of trading, the standard procedures of IPOs will apply. Brokerage companies will be permitted to enter any buy/sell orders for QFB shares in the pre-open session at 8:30 am for the listing morning day only. The pre-opening session for all other listed companies will remain as business usual at 9:00 a.m.

The company’s current shareholders’ data (approx. 1,600 shareholders) will be available to all brokerage firms effective Sunday, April 24, 2016.

On this occasion, Mr. Rashid bin Ali Al-Mansoori, CEO of Qatar Stock Exchange, said: The listing of QFB is an important turning point in the listings history in QSE as it is the first case of listing a QFC company in trading platforms in QSE. In this regard, Mr. Al-Mansoori invited the issuers wishing to offer or to list their securities, whether registered in the Ministry of Economy & Commerce or in QFC, to take advantage of the recently announced “Single Window” procedure which entitles one entity to complete all procedures of listing and admission to trading. The applications shall be submitted the QSE Listing Department in its capacity as the competent party to receive offering/listing applications. QSE is ready to cooperate with all the companies wishing or planning to list on the stock exchange, especially in view of the fact that the stock market has ample and qualified expertise to guide the companies through the listing requirements and procedures, as well as in terms of the transformation into a public joint stock eligible for listing on Qatar Stock Exchange.

Qatar First Bank is a Limited Liability Company which is incorporated in Qatar financial Centre Regulatory Authority. The bank was established in September 4, 2008.  The Bank’s authorized capital amounts to QR 2.5 billion and the issued capital is QR 2 billion which 100% is paid up.

QFB’s business activities include among others, Deposit Taking, Dealing in Investments, Arranging Deals in Investments, Providing Credit Facilities, Arranging Credit Facilities, Providing Custody Services, Arranging the Provision of Custody Services, Managing Investments, Advising on Investments, Managing a Collective Investment Fund.