Posted on December 08, 2018

Qatar Stock Exchange (QSE) on Thursday announced that the admittance of the shares of Qatar Aluminums Manufacturing Company (QAMCO) to trading will commence on December 16.

The decision to list QAMCO on QSE is based on the approval of Qatar Financial Markets Authority after the company has fulfilled all necessary administrative and technical requirements. With the listing of QAMCO, the number of listed companies on QSE will increase to 46, QSE said. QSE stated that listing of QAMCO will be in the Industrial Sector with a symbol of QAMC.

As usual, price floatation for QAMCO will be permitted only for the first day of listing. Price fluctuation on the second day and thereafter will be permitted by 10 percent up or down as in 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 or sell orders for QAMCO shares in the pre-open session at 8.45 am for the listing morning day only. The pre-opening session for all other listed companies will remain as business usual at 9 am,” QSE said.

In preparation for trading the company’s shares, QAMCO current shareholders’ data will be available to all brokerage firms with effective from Sunday, December 9, 2018 and shareholders will be able to refer to the brokerage firms directly to deliver sale and purchase orders. QAMCO was established in its final form on December 3, 2018. The company’s authorised and issued capital amounts to QR5.6 billion of which 100 percent is paid up.

source: Qatar Tribune

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