How to list
How to List
We summarize in this section the process of preparation and execution involved in going public during which you will receive guidance from numerous third party advisors including lawyers, auditors, investment banks and public relations specialists.
Choosing advisors, auditors and professional business consultants is an important step. For each of these positions you will want to look for particular skills, competencies, knowledge and know-how to ensure that you bring together the best team to help you through the process.
The first step is an initial review of the requirements for becoming a listed company. An applicant must*:
- Be a joint-stock company licensed by the Ministry of Business & Trade
- Have a minimum of 100 shareholders(1)
- Minimum free float of 20%(1)
- Minimum subscribed capital of QR40 million
- Have an audited three year track record
- Publish a prospectus approved by QFMA
- Undertake to adhere to all QSE rules and regulations
- Submit documents as specified by QSE:
- Application form
- Copy of Articles and Memorandum of Association
- Copy of valid Commercial Registration
(1) Subject to limited exceptions.
*For a full discussion of the current QSE requirements please refer to the QSE Rulebook and the QFMA’s Listing Rules, Chapter 4 of the QSE Bylaws.
On the basis of an initial approach to the Ministry of Business & Trade on the process of becoming a public shareholding company the applicant will then approach QFMA for approval of the prospectus. At a later stage a subscription period will be determined after submission of all necessary documentation.
In summary the process can take between nine to twelve months depending on the structure and complexity of the listing scheme. The major steps are summarised below:
- Step 1: Initial approach to MB&T
- Step 2: Submit listing application and preliminary prospectus for approval to QFMA
- Step 3: Submit admission to trading application to QSE