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The Qatar Stock Exchange (QSE) is expecting listings from “several companies” in 2024, including one from an investment fund, according to its Acting CEO, Abdulaziz Nasser Al Emadi.
According to Al Emadi, the listing by the investment fund was initially scheduled for the first quarter of 2024, however, it was postponed to later in the year, he revealed during an interview with the Qatar News Agency (QNA).
“Several companies are getting prepared and are expected to be listed during the coming period, in addition to the financial derivatives market, of which QSE is preparing and developing the infrastructure,” he told the QNA, alluding to the Derivatives Markets and Exchanges Rules (DMEX) that launched in 2023 to allow for the establishment of a derivatives exchange and a central clearing counterparty to ensure efficient settlement of trades and management of settlement risk.
Al Emadi also told QNA the exchange was looking to attracting listings from various sectors, including tourism, health, technology, and small and medium enterprises (SME).
In the same interview, the QSE head further affirmed that “all numbers and indicators confirm that the stock market is stable and balanced and is moving in an upward direction in terms of future growth.”
The net profit of companies listed on the QSE accounted for 47.44 billion Qatari riyals ($13.03 billion) in 2023, compared to QAR 48.92 billion in 2022, indicating a decrease of 3.03%.
Speaking ahead of the Arab Federation of Capital Markets 2024 conference, which is being hosted by QSE on April 29 and 30 in Qatar, Al Emadi told the QNA the event was integral to highlighting the challenges facing financial markets and geopolitical developments in the region, while focusing on avenues to attract international capital.
(Writing by Bindu Rai, editing by Daniel Luiz)
