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Satyendra Pathak
Doha
Al Faleh Educational Holding Company (Al Faleh), the first entity admitted for trading on the Venture Market of Qatar Stock Exchange (QEVM) that began its operations on Tuesday, made its debut with a big jump as its shares rose a whopping 161 percent.
Launched by the Qatar Stock Exchange (QSE), QEVM provides an alternative venue for listing and trading of shares for Small and Medium Enterprises (SMEs) that are unable to meet the higher capital and other requirements of the main market.
With a reference price of QR1, Al Faleh opened for trading at QR1.5 and went up to QR3.5 before settling at QR2.61 with a surge of 161 percent at the close of its first-day trading.
As free price floatation for Al Faleh was permitted only for the first day of listing, price fluctuation on the second day and thereafter will be in the permissible range of 10 percent up or down as in the case for all other listed companies.
Al Faleh began trading under the ticker (FALH) on the same platform and under the same operational procedures as all other companies listed but was distinguished in a separate tab on QSE’s Market Watch and other display items.
The first day of trading on QEVM demonstrates the QSE’s long-term commitment to providing multiple routes to access Qatar’s capital markets.
QEVM gives SME owners an opportunity to be listed on the bourse in accordance with lighter and flexible regulations. The QEVM provides SMEs with many advantages as it allows them to diversify sources of funding through access to permanent equity capital whilst offering liquidity to financial, family or minority shareholders as well as visibility.
With the beginning of trade, Al Faleh achieved three firsts on Tuesday. The company became the first company in the education sector to trade on QSE in its twenty-four years of history. It became the first company to list on QEVM. Most importantly, Al Faleh Founder Sheikha Aisha Bint Faleh Al Thani became the first woman chairperson of a listed company in Qatar.
Speaking on the occasion, QSE CEO Rashid Al Mansoori said, “We are all extremely proud to open the market and welcome Al Faleh to the extended QSE family and look forward to them being an outstanding addition to our markets.”
Sheikha Aisha said, “We are proud to be the first company to make use of this alternative route to market demonstrating our belief in the market and the place it will have in our future. We fully expect to evaluate a ‘promotion’ to the main market when the time is right for our shareholders and the company.”
Al Faleh was established in 2000 as Doha Academy to provide high-quality educational services from kindergarten stages through to higher education. Since then, the company has witnessed carefully managed growth, adding Doha Academy Salwa and Doha
Al Faleh was able to list using a special mechanism called a ‘Direct Listing’. This mechanism is common throughout the region allowing issuers to access the public markets without a public offer. Deloitte Middle East acted as the listing advisor for Al Faleh for a listing of 240 million ordinary shares on the QEVM.
Al Faleh Educational Holding will be the first to list on QEVM and also the first in the education sector to go public in Qatar. According to a release, Deloitte Middle East Corporate Finance Advisory Partner Robin Butteriss led this landmark transaction.
“We are very pleased to have successfully led and managed a complex transaction process that resulted in the debut listing on QEVM. The experience and capabilities of the financial advisory team in Qatar played a major role in supporting Al Faleh Educational Holding transition to the next phase of growth and development,” Butteriss said.
Deloitte Middle East Partner Walid Slim supported Al Faleh throughout and worked closely with the Qatar Stock Exchange. “The QEVM, as a platform provides similar companies opportunities to accessing capital markets and diversify sources of funding, which will support future their activities,” Slim said.
Doha
Al Faleh Educational Holding Company (Al Faleh), the first entity admitted for trading on the Venture Market of Qatar Stock Exchange (QEVM) that began its operations on Tuesday, made its debut with a big jump as its shares rose a whopping 161 percent.
Launched by the Qatar Stock Exchange (QSE), QEVM provides an alternative venue for listing and trading of shares for Small and Medium Enterprises (SMEs) that are unable to meet the higher capital and other requirements of the main market.
With a reference price of QR1, Al Faleh opened for trading at QR1.5 and went up to QR3.5 before settling at QR2.61 with a surge of 161 percent at the close of its first-day trading.
As free price floatation for Al Faleh was permitted only for the first day of listing, price fluctuation on the second day and thereafter will be in the permissible range of 10 percent up or down as in the case for all other listed companies.
Al Faleh began trading under the ticker (FALH) on the same platform and under the same operational procedures as all other companies listed but was distinguished in a separate tab on QSE’s Market Watch and other display items.
The first day of trading on QEVM demonstrates the QSE’s long-term commitment to providing multiple routes to access Qatar’s capital markets.
QEVM gives SME owners an opportunity to be listed on the bourse in accordance with lighter and flexible regulations. The QEVM provides SMEs with many advantages as it allows them to diversify sources of funding through access to permanent equity capital whilst offering liquidity to financial, family or minority shareholders as well as visibility.
With the beginning of trade, Al Faleh achieved three firsts on Tuesday. The company became the first company in the education sector to trade on QSE in its twenty-four years of history. It became the first company to list on QEVM. Most importantly, Al Faleh Founder Sheikha Aisha Bint Faleh Al Thani became the first woman chairperson of a listed company in Qatar.
Speaking on the occasion, QSE CEO Rashid Al Mansoori said, “We are all extremely proud to open the market and welcome Al Faleh to the extended QSE family and look forward to them being an outstanding addition to our markets.”
Sheikha Aisha said, “We are proud to be the first company to make use of this alternative route to market demonstrating our belief in the market and the place it will have in our future. We fully expect to evaluate a ‘promotion’ to the main market when the time is right for our shareholders and the company.”
Al Faleh was established in 2000 as Doha Academy to provide high-quality educational services from kindergarten stages through to higher education. Since then, the company has witnessed carefully managed growth, adding Doha Academy Salwa and Doha
Al Faleh was able to list using a special mechanism called a ‘Direct Listing’. This mechanism is common throughout the region allowing issuers to access the public markets without a public offer. Deloitte Middle East acted as the listing advisor for Al Faleh for a listing of 240 million ordinary shares on the QEVM.
Al Faleh Educational Holding will be the first to list on QEVM and also the first in the education sector to go public in Qatar. According to a release, Deloitte Middle East Corporate Finance Advisory Partner Robin Butteriss led this landmark transaction.
“We are very pleased to have successfully led and managed a complex transaction process that resulted in the debut listing on QEVM. The experience and capabilities of the financial advisory team in Qatar played a major role in supporting Al Faleh Educational Holding transition to the next phase of growth and development,” Butteriss said.
Deloitte Middle East Partner Walid Slim supported Al Faleh throughout and worked closely with the Qatar Stock Exchange. “The QEVM, as a platform provides similar companies opportunities to accessing capital markets and diversify sources of funding, which will support future their activities,” Slim said.
