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Satyendra Pathak
Doha
Shares of Baladna began trading on Qatar Stock Exchange (QSE) amid huge trade volume and value after the company’s listing on Wednesday.
The first day of trading witnessed 67.34 million Baladna shares exchange hands, accounting for almost 60 percent of the total trade volume of 112 million on QSE on Wednesday. The value of total Baladna shares traded was worth QR67.34 million, accounting for almost 30 percent of the overall trade value of QR221.32 million on the day.
Listed with the code BLDN and being traded in the consumer goods and services sector, the total number of trades in Baladna shares reached 5,528 at the close of the trading session, accounting for more than 50 percent of 10,590 overall trades.
Baladna, which raised the number of listed companies to 47 on QSE with a face value of QR1, opened 2 percent higher at QR1.02 and reached an intraday-high of QR1.07 before settling at QR1 at the close of the trading session.
The start of trading today follows the successful offer of shares in Baladna after its IPO saw high demand from investors resulting in oversubscription.
The offering comprised of 1.425 billion new shares representing 75 percent of the share capital of the company.
As of tomorrow, the price fluctuation for Baladna will be limited to 10 percent up and down, as the case for all other listed companies.
The listing was marked by an event which saw Qatar Stock Exchange CEO Rashid al Mansoori, Baladna Chairman Moutaz al Khayyat, Baladna Vice Chairman Mohammad al Sada and Baladna Managing Director and Board Member Ramez al Khayyat ring the bell.
Speaking on the occasion, Baladna chairman said, “This is an exciting day for Baladna and for Qatar. We are immensely proud of the response we have had from investors, which is a strong vote of confidence in both the market and our exciting future. We’re delighted to welcome Qatari citizens as investors and share in the company’s success as part-owners of Qatar’s fast-expanding fresh dairy and beverage industry.”
“We are proud to be the 47th company to be traded on the QSE after the conclusion of a successful and oversubscribed IPO. We are now focused on delivering the results set out in our growth plans, and maintaining our commitment to ensure Qatar’s self-sufficiency in dairy products,” he said.
Talking to Qatar Tribune on the sidelines of Qatar Stock Exchange Rashid bin Ali al Mansoori said that the listing of Baladna on QSE is a valued addition to the Qatari market.
QSE is expected to list more companies in 2020, Mansoori said adding that one of the real estate companies in Qatar has applied to list on the exchange. “We are studying the files and there are very high chances that it will be listed next year,” he said.
“We have also begun to study a group of family company files seeking listing on the exchange. Timing of listing depends on the company in terms of readiness and meeting the requirements for listing,” he said.
Mansoori also pointed out that there are companies operating in sectors such as health, industry and other areas that have shown interest in listing on stock exchange.
Mansoori said the exchange will hold promotional campaigns in Qatar next year to encourage investors especially expatriates to invest in listed companies.
Qatar Stock Exchange Listing Department Director Abdul Aziz al Emadi said the listing of Baladna adds an important investment option to investors as the company will play a vital role in diversifying investment options for investors.
Baladna was established on December 2, 2019 after the successful completion of IPO with an authorised capital of QR1.9 billion, which is 100 percent paid in full.
Doha
Shares of Baladna began trading on Qatar Stock Exchange (QSE) amid huge trade volume and value after the company’s listing on Wednesday.
The first day of trading witnessed 67.34 million Baladna shares exchange hands, accounting for almost 60 percent of the total trade volume of 112 million on QSE on Wednesday. The value of total Baladna shares traded was worth QR67.34 million, accounting for almost 30 percent of the overall trade value of QR221.32 million on the day.
Listed with the code BLDN and being traded in the consumer goods and services sector, the total number of trades in Baladna shares reached 5,528 at the close of the trading session, accounting for more than 50 percent of 10,590 overall trades.
Baladna, which raised the number of listed companies to 47 on QSE with a face value of QR1, opened 2 percent higher at QR1.02 and reached an intraday-high of QR1.07 before settling at QR1 at the close of the trading session.
The start of trading today follows the successful offer of shares in Baladna after its IPO saw high demand from investors resulting in oversubscription.
The offering comprised of 1.425 billion new shares representing 75 percent of the share capital of the company.
As of tomorrow, the price fluctuation for Baladna will be limited to 10 percent up and down, as the case for all other listed companies.
The listing was marked by an event which saw Qatar Stock Exchange CEO Rashid al Mansoori, Baladna Chairman Moutaz al Khayyat, Baladna Vice Chairman Mohammad al Sada and Baladna Managing Director and Board Member Ramez al Khayyat ring the bell.
Speaking on the occasion, Baladna chairman said, “This is an exciting day for Baladna and for Qatar. We are immensely proud of the response we have had from investors, which is a strong vote of confidence in both the market and our exciting future. We’re delighted to welcome Qatari citizens as investors and share in the company’s success as part-owners of Qatar’s fast-expanding fresh dairy and beverage industry.”
“We are proud to be the 47th company to be traded on the QSE after the conclusion of a successful and oversubscribed IPO. We are now focused on delivering the results set out in our growth plans, and maintaining our commitment to ensure Qatar’s self-sufficiency in dairy products,” he said.
Talking to Qatar Tribune on the sidelines of Qatar Stock Exchange Rashid bin Ali al Mansoori said that the listing of Baladna on QSE is a valued addition to the Qatari market.
QSE is expected to list more companies in 2020, Mansoori said adding that one of the real estate companies in Qatar has applied to list on the exchange. “We are studying the files and there are very high chances that it will be listed next year,” he said.
“We have also begun to study a group of family company files seeking listing on the exchange. Timing of listing depends on the company in terms of readiness and meeting the requirements for listing,” he said.
Mansoori also pointed out that there are companies operating in sectors such as health, industry and other areas that have shown interest in listing on stock exchange.
Mansoori said the exchange will hold promotional campaigns in Qatar next year to encourage investors especially expatriates to invest in listed companies.
Qatar Stock Exchange Listing Department Director Abdul Aziz al Emadi said the listing of Baladna adds an important investment option to investors as the company will play a vital role in diversifying investment options for investors.
Baladna was established on December 2, 2019 after the successful completion of IPO with an authorised capital of QR1.9 billion, which is 100 percent paid in full.
