S’hail Holding – a leading group that operates in recycling, producing and exporting processed ferrous, non-ferrous metals and plastics – is planning to get listed on the Qatar Stock Exchange (QSE).
In this regard, QSE chief executive Rashid bin Ali al-Mansoori had talks with Shail Holding Group chairman Sheikh Khalid bin Ahmed bin Mubarak al-Thani where he assured the latter to assist the company and provide with the necessary consultations and support.
“We are glad to hear the plans of @shailholding to list on the QSE within two years,” al-Mansoori said in a tweet.
It could not be ascertained how the company, which has a solid business base and extensive market reach with strong logistic support and modern export facilities in several locations around the region, is planning to enter the QSE; whether via initial public offering (IPO) or otherwise.
There have been five IPOs in the last six years, including those of QLM, Baladna and Qamco. At present, Qatar’s bourse has 48 listed companies with 13 in the banking and financial services, 10 each in consumer goods and services and industrials, six in insurance, four in real estate, three in transport and two in telecom.
The QSE has already announced a robust pipeline of upcoming IPOs, comprising listings from various industries; even as Qatari businesses have been less inclined to pursue equity funding as they have enjoyed easy access to cheaper bank financing.
The local bourse has been active in raising awareness among small business owners and family-owned companies of the advantages of listing on its market.
QSE listings director Abdulaziz al-Emadi recently said it will reinvigorate efforts to encourage the family-owned companies and private companies to market the stock exchange internally and externally as part of measures to bring in more liquidity and companies.
“There has been good appetite (for listing) and now it is even more. We expect good number of listings in this year and we have a good list of potential (candidates) but the decision is up to the companies themselves,” he added.
The QSE has already introduced the single-window system for the companies wishing to go public through IPO.
"The process of listing private companies in the stock market will help to increase organisational strength since initial public offering can reduce the risks of relying on the founding shareholders and expand the investors base supporting the company's growth and investments," al-Emadi had said last year.
The IPOs are expected to bring depth and diversity for the market, which has been witnessing steady interests from foreign investors since the global index compilers MSCI, Standard & Poor’s Dow Jones and FTSE Russell upgraded Qatar to ‘emerging market' in view of progressive reforms.