After World Cup, Qatar sets sight on reviving its stock market | Reuters
Qatar's stock market is set to welcome its first initial public offering (IPO) in almost three years in a test of new regulations that Doha has introduced, hoping to compete with more active exchanges in the region.
IT services firm MEEZA could raise up to 911 million riyals ($249 million) when it launches its IPO on Jan. 15 through the sale of 50% of its shares under a new bookbuilding process in Doha which allows companies to offer a price range to test investor appetite and determine pricing.
Qatar, the world's top LNG exporter and recent host of the FIFA World Cup 2022, is turning its attention to diversifying its economy away from gas.
That strategy includes building its equities market by opening it up to a wider investor base and introducing more listings.
"Now that the World Cup has been successfully hosted, we can see the focus is shifting to other diversification areas," said Osama Ali, HSBC's head of global banking in Qatar.
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