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DOHA: The Qatari bourse has urged the owners of small and medium businesses to contact its listing department to exchange ideas in its preparations to launch a junior stock market.
“Medium and small enterprise owners are invited to take the initiative of contacting the listing department of Qatar Exchange (QE) to exchange ideas and views that could contribute to the successful development of the market,” a senior QE administration official said.
In a statement, Ahmed Al Sayed, vice-chairman of QE’s board, said the proposed parallel market will offer investors as well more options for investment by increasing the number of listed companies.
Al Sayed said he lauded the decision of the Supreme Council for Economic Affairs and Investment, approving the establishment of a junior market for small and medium enterprises (SME’s) at Qatar Exchange as a major milestone in enhancing the role of these companies in supporting the national economy and contributing in the achievement of Qatar National Vision 2030.
He said the move would contribute to developing the SMEs companies and increasing their efficiency and enhancing their role in the national economy.
The management of Qatar Exchange will take the necessary measures to implement the decision in cooperation with the concerned financial and governmental entities and in coordination with the Enterprise Qatar, Qatar Development Bank and Silatech, he added.
Al Sayed stated that the criteria, which will be set for small and medium enterprises, will be different from the currently-applicable requirements for listing companies on the main market, noting that the establishment of a junior market will give SME owners the opportunity to be listed in Qatar Exchange in accordance with flexible regulations, in addition to giving them further financial resources to grow and expand their businesses.