Ongoing Obligations
Differences between the Main Market and Venture Market
| Requirement | Main Market | Venture Market |
|---|---|---|
| Issued and Paid-up Capital | 40 million Qatari riyals | 2 million Qatari riyals |
| Shareholders Equity to capital | 100% | 50% |
| Profitability | Average operating profit to be less than 5% of the issuer’s capital from the issuer’s principal activity for the last two years. | Not required |
| Offering Percentage | Not less than 20% and not more than 60% (IPO) Not less than 25% and not more than 60% (Direct listing) | Not less than 10% and not more than 60% (IPO or Direct listing) |
| Methods for pricing the IPO or listing | In case of an IPO: - Financial evaluator’s report prepared by a financial evaluator - Book building - Underwriter In case of a Direct listing: - A preliminary auction process - Financial evaluator’s report prepared by a financial evaluator - A combination of those methods | |
| Historical financial statements | 2 years of audited financials | 1 year audited financials |
| The number of shareholders at the time of listing | 200 shareholders excluding the founders (IPO) 100 Shareholders excluding the founders (Direct listing) | 200 shareholders excluding the founders (IPO) 20 Shareholders excluding the founders (Direct listing) |
| Listing Advisor | Required during the listing process. | Required during the listing process and for a period of 6 months after the listing. |
| Periodic Reporting | Quarterly reviewed financial statements to be published within 30 days Semi-annually reviewed financial statements to be published within 45 days Annual audited financial statements to be published within 90 days | Semi-annually reviewed financial statements to be published within 45 days Annual audited financial statements to be published within 120 days |
| Annual listing fees | 0.03% of the issued capital | QAR25k flat fee (Waived for the first year) |
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QSE Listing Department