Qatar Financial Markets Authority
(QFMA) announced that the enforcement date of the decision of stock split of
the companies listed at Qatar Stock Exchange (QSE) is on 9th June 2019, so that the nominal
value of a share in all listed companies shall become one Riyal per share. The
same decision shall apply to investment funds’ units listed in QSE.
QFMA stated that the decision of the
stock split shall be enforced during the period of 9 June to 7 July 2019, in a scheduled
manner in coordination with QSE, Qatar Central Securities Depository (QCSD) and
other concerned parties.
QFMA confirmed that a detailed schedule,
of the stock split date of each of the listed companies subject to stock
splitting, shall be published later on the websites of the QSE and QCSD.
QSE listed companies held extraordinary
meetings of their general assemblies, in parallel with their ordinary annual
meetings, in order to amend their articles of association in preparation for
the decision’s enforcement.
QFMA, in coordination with QSE, QCSD and the financial
services companies, has held several workshops and coordination meetings to equip
the existing systems and rules with the required through task forces formed to
coordinate and prepare for the splitting process. In addition to that, QFMA
organized last October a workshop on stock split, at the end of the second
Corporate Governance Conference, and invited listed companies and all related
parties to enhance awareness about the stock split processes.