Techno Q Listed on Qatar Stock Exchange Venture Market

Doha: Qatar Electronic Systems Company (Techno Q) on Wednesday successfully listed its shares on the Qatar stock exchange venture market (QEVM), raising QEVM listed companies to 54. The shares of Qatar Electronic Systems Company (Techno Q) were listed through the "Direct Listing" mechanism, a common mechanism in all regional markets, which allows companies to be listed without an IPO. Techno Q was established in Qatar in 1996 operating in the AV, hospitality, and lighting segment through its own operation and in the ELV and security systems segment through its fully owned subsidiary Techno Q Security Systems WLL. On this occasion, Acting CEO of the Qatar Stock Exchange Abdul Aziz Nasser Al Emadi said: "The listing of Techno Q company will increase the depth of the market and unlock opportunities to expand our investor base and access to capital while providing investors with the opportunity to invest in leading Qatari companies." "We have successfully listed four companies, achieving a remarkable growth ra te of one listing each year, since the establishment of the QEVM in 2021," he added. "This achievement is a testament to our continuous efforts to enhance the market's vibrancy and accessibility. Additionally, the introduction of the Qatar Exchange Venture Market (QEVM) Listing Cost Financing Program, which is a joint initiative between QSE and Qatar Development Bank (QDB) has generated significant interest, with numerous applications lined up for both the main and venture markets. As we move forward, our commitment to fostering a robust financial ecosystem," he pointed out. In turn, Managing Director and Co-founder of Techno Q Zeyad Al Jaidah said: "Techno Q's listing on the Qatar Exchange Venture Market is a historic feat for our company, partners, and stakeholders. Our journey to becoming a regional systems integrator is a culmination of 28 years of planning, persistence, and passion. Today, we are seeing the fruits of this labor and we are committed to ensuring this next chapter in our story continues to showcase our dedication to quality and innovation." For his part, Chief Executive Officer and Co-founder of Techno Q Abdullah Al Ansari said: "We are grateful for the support of our team, partners, and clients who have been instrumental in our success, and we look forward to achieving even greater milestones together as we focus on developing our services and products. As only the fourth company to list on the Qatar Exchange Venture Market, we understand the task at hand, but our Techno Q DNA demonstrates we are prepared to take on the challenge of this new chapter." Qatar Electronic Systems Company (Techno Q) shares were listed Wednesday with the ticker TQES. The company's share price was floated on the first trading day. The stock's opening price was QR 3.81, and the last transaction price was QR 3.67. The highest price reached QR 4.20 during the trading session and the lowest price reached 3.48 Qatari riyals. Starting from the second day of trading, the stock price will be allowed to fluctuate by 10 pe rcent up and down, as is the case for other companies listed on the market. The company's shareholders' data have been made available to the brokerage firms as of Sunday 23 June 2024, to enable shareholders to submit their buy/sell orders directly to the brokerage firms. Source: Qatar News Agency