MEEZA Chairman, Sheikh Hamad bin Abdullah Al Thani; MEEZA Chief Executive Officer, Eng. Ahmad Abdulla Al Muslemani; Qatar Stock Exchange Acting Chief Executive Officer, Abdulaziz Nasser Al Emadi in the presence of distinguished guests and dignitaries, MEEZA top management on the first trading day of MEEZA shares at QSE headquarters, yesterday.
Doha, Qatar: MEEZA, the leading managed IT and data center service provider in Qatar successfully listed its shares on Qatar Stock Exchange’s (QSE) main market, yesterday. With this addition, the main market of the QSE now boasts a total of 51 listed companies, further enhancing its dynamic landscape.
The offering of MEEZA shares was conducted through the ‘Book Building’ mechanism, which was used for the first time in Qatar. This mechanism is used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.
On this occasion, Abdulaziz Nasser Al Emadi, Acting Chief Executive Officer of Qatar Stock Exchange, expressed his pleasure at the listing of Meeza and said, “We are delighted to welcome Meeza, a pioneering technology company, to the Qatar Stock Exchange family.”
Commenting on the successful listing, Sheikh Hamad bin Abdullah Al Thani, MEEZA Chairman, said: “Today marks a significant milestone in the MEEZA transformation journey as the company’s shares were successfully listed for trading on the main market of Qatar Stock Exchange. This unprecedented step in the managed end-to-end IT services sector will give the investment community a promising investment option to grow their wealth and contribute to Qatar’s digital economy industry. I also take this opportunity to express our sincere appreciation to all the regulatory and supervisory authorities for their cooperation that culminated in this achievement, which will enhance MEEZA’s exceptional track record.”
Eng. Ahmad Abdulla Al Muslemani, MEEZA Chief Executive Officer, said: “I am elated today to see MEEZA successfully listed on the Qatar Stock Exchange main market. This milestone will provide a great opportunity for us to bolster the Company’s already strong capital by increasing its shareholder base, which will support its ambitious growth and development targets. MEEZA’s transformation to a publicly listed company provides an opportunity for the investors to take part in the Company’s journey and achievements, as it looks to continue its strong financial performance and revenue growth.”
The company was listed with the ticker MEZA with the ISIN code QA000PK2KD10 following a successful subscription for its shares through Initial Public Offer (IPO). MEEZA targets a share capital of QR648,980,000, comprising 648,980,000 shares with a nominal value of QR1.00 per share.
The first day of trading in MEEZA stock closed at a price of QR2.30, representing a market capitalization of QR1.49bn.
From the first day of trading, eligible investors for trading in the shares include all Qatari and non-Qatari investors permitted to trade in the shares in accordance with the Qatar Stock Exchange Rulebook, the Qatar Financial Market Authority Listing Rules, and the Qatar Central Bank regulations.
MEEZA, a Qatar Foundation joint venture is an established end-to-end Managed IT Services and Solutions provider based in Qatar that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions. MEEZA’s offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence.
The company has Five Tier III certified Data Centers, known as M-VAULTs offering a guaranteed uptime of 99.98 percent built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks. MEEZA simplifies IT operations, enhances efficiency, and supports the digital transformation journey for government entities and businesses in Qatar.
The listing ceremony was attended by Meeza Company’s Board of Directors, along with a number of distinguished guests, investors, and interested parties.
