Qatar Stock Exchange (QSE) yesterday launched its much-awaited Venture Market, providing a new platform for Small and Medium Enterprises (SMEs) to list their shares in the stock market. This market serves as a dedicated stock exchange for SME listings and gives an alternative platform to raise funds. Al Faleh Educational Holding will be the first company to list in the Qatar Exchange Venture Market.
“We are all extremely proud to open QSE’s Venture Market and welcome the first SME to the extended QSE ‘family’ and look forward to them being an outstanding addition to our markets,” said QSE’s Chief Executive Officer, Rashid bin Ali Al Mansoori, said in a tweet yesterday.
“Qatar Stock Exchanged launched its Venture Market to provide SME’s with a clear alternative route to market as well as allowing them to diversify sources of funding and increasing company’s equity base,” he added.
Launch of Venture Market is a big boost for SMEs in Qatar as it allows small businesses to list share with lighter regulatory requirements. Opening of this market will encourage more SMEs to list share on the exchange.
Al Faleh Educational Holding has has already obtained the approval of the Qatar Financial Markets Authority, Qatar Stock Exchange and the Ministry of Commerce and Industry to convert the company from a limited liability company to a Qatari public shareholding company.
Al Faleh Educational Holding runs three schools, including Doha Academy and Doha International Kindergarten, in addition to a top-ranked university that is also the first UK University to operate on a dedicated campus in Qatar, AFG College with the University of Aberdeen.
“Qatar Stock Exchange put the amended criteria in place to provide an additional route to market for SME’s who sought to list without all the resource requirements and costs associated with the Main Market,” Rashid bin Ali Al Mansoori.
“Qatar Stock Exchange launched its Venture Market demonstrating its long-term commitment to providing multiple routes to access Qatar’s capital markets,” he said.