Al Faleh Educational Holding (a Qatari Public Shareholding Company), with commercial registration number 71150 ('Company') has obtained the approvals of the Qatar Financial Market Authority and the Qatar Stock Exchange (QSE) to list its shares on the venture market of Qatar Stock Exchange (“QEVM”) on April 13.
The Company will be the first educational company to be listed on the QEVM. The Company is the first company in the Arab world to be founded and chaired by a Qatari woman, Dr. Sheikha Aisha bint Faleh Al Thani (pictured), and to be listed on a stock exchange.
The shares of the Company will be listed under the ticker “FALH” and the ISIN code will be “QA0006H60SJ0”. The listing advisor is Deloitte & Touche – Qatar branch. The Company was initially incorporated as a limited liability company on March 1, 2015 and was converted to a Qatari public shareholding company by virtue of decision number 18 of 2021 issued on 11 March 2021 by the Minister of Commerce and Industry.
The issued and paid-up share capital of the Company is QR240,000,000 divid e d i n t o 240,000,000 ordinary shares. Each share has a nominal value of QR1. The Company provides educational services through its network of schools which include Doha Academy and Doha International Kindergarten in addition to AFG College with the University of Aberdeen, a top ranked university that is also the first UK university to operate on a dedicated campus in Qatar.
In a separate statement, Qatar Stock Exchange said that Al Faleh will be traded in the same manner as those on the main market in terms of order types, corporate actions and Settlement/ Clearing arrangements.
Pricing of Al Faleh securities is exactly the same as pricing mechanism of the stocks listed on the main market. Investors do not need to obtain new investor number to trade in Al Faleh shares since no new investor numbers (NIN’s) are required to be issued for the investors who have already existing numbers.
The orders in the QEVM are executed through the brokers licensed by QFMA. The shares of Al Faleh will be listed with the symbol “FALH”. The company’s share price will be floated on the first day of trading, while it will be allowed to fluctuate by 10 percent up and down starting from the second day of trading of the company’s shares.
The founders’ data will be made available to the brokerage firms as of Sunday 11/04/2021 in preparation for trading of the company’s shares in order to allow them to receive buy and sell orders. The company will be listed in the second market using the direct listing option. Rashid bin Ali Al Mansoori, CEO of the Qatar Stock Exchange, said: “the QE Venture Market (QEVM) will provide a listing and trading venue for SME’s that do not fulfil listing requirement of the main market.
The QEVM provides an alternative route to market for the SME’s who need the access to capital that being listed entails.” There will be no change in the timing of the trading session on the listing day. Brokerage firms will be allowed to enter buy and sell orders on the company’s shares for the pre-open period, as is usual at 9 AM. The QEVM will follow the same continuous trading pattern as the main market.
The tick sizes for the QEVM Equities will be as same as those for the main market. The stock quotes of the QEVM will be broadcasted on a separate market watch at QSE website and independent from the main market screens.
Trading volumes and other relevant data for the QEVM will be reported on the QSE website on a daily basis. Al Faleh Educational Holding runs three schools, including Doha Academy and Doha International Kindergarten, in addition to a topranked university that is also the first UK University to operate on a dedicated campus in Qatar, AFG College with the University of Aberdeen.
Al Faleh Educational Holding runs three schools, including Doha Academy and Doha International Kindergarten, in addition to a topranked university that is also the first UK University to operate on a dedicated campus in Qatar, AFG College with the University of Aberdeen.
