Qatar Exchange to list Mesaieed Petrochemical on Feb 26

20 Feb '14

2 min read

Qatar Exchange (QE) will list Mesaieed Petrochemical Holding Company (MPHC) on Wednesday, February 26, 2014, according to a statement.

The decision to list MPHC on QE resulted after the company obtained the approval from the Qatar Financial Markets’ Authority (QFMA) and fulfilled and complied with all necessary listing requirements, the QE statement said.

With the listing of MPHC, the number of listed companies on QE will increase to 43.

QE stated that listing of MPHC will be in the Industrial Sector with a symbol MPHC. As usual, price floatation for MPHC will be permitted only for the first day of listing. However, price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies.

The MHPC currently has approximately 199,000 shareholders and their data has been registered in the shareholders accounts at the Qatar Central Securities Depository.

The data will become available at the brokerage firms effective Sunday, February 23, 2014, so investors will be able to submit their buy/sell orders directly to the brokers as of that date, the statement said.

Mesaieed Petrochemical Holding Company was established on May 29, 2013. The company’s authorized and issued capital amounts to QR 12 billion which is 100% paid up. MPHC’s business activities include among others, to establish, manage, own, and/or hold shares, assets and interests in companies (and their subsidiaries and/or associated undertakings) engaged in all manner of processing and/or manufacturing of petrochemical products.

MPHC is a 100 percent subsidiary of Qatar Petroleum (QP) and was created to combine QP’s interests in three established and profitable companies: Qatar Chemical Company Ltd. (Q-Chem or Q-Chem I), Qatar Chemical Company II Ltd. (Q-Chem II), and Qatar Vinyl Company Limited (QVC).

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