Doha – Mubasher: Investment Holding Group on Tuesday approved the company's statute and its transformation into a Qatari public shareholding company, in preparation to list its shares on the Qatar Stock Exchange (QSE), according to Alarab newspaper.
The listing process will be implemented during the next two weeks after finalising all listing procedures, the group’s CEO said.
The fate of the founders’ shares, amounting to 30%, after the initial public offering (IPO) is currently being discussed with the concerned authorities, according to the newspaper citing Shtayyeh.
The expenses of the IPO, listing, and transformation of the firm into a public shareholding company stood at QAR 17 million, the group’s deputy chairman stated.
The QSE had approved in January 2017 the offering of 49.8 million shares for subscription, representing 60% of the capital. The offering started on 8 January and was extended until 4 February.
In February 2017, the group had announced that 29.8% of its capital had been covered by 10,300 individual and company subscribers.
