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QFMA Announces the Enforcement of Stock Split on 9 June 2019

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.