Doha, Qatar–Dukhan Bank was listed today on Qatar Stock Exchange’s (QSE) main market.
Dukhan Bank will list under the ticker symbol “DUBK.” The company’s share price was floated on the first trading day.
The stocks opening price was 4.000 Qatari riyals, and the last transaction price was 2.992 Qatari riyals.
This raised the total number of companies listed in the main market to 50 Qatari public companies.
The highest price reached 4.000 Qatari riyals during the trading session and the lowest price reached 2.990 Qatari riyals.
Dukhan Banks shares were listed in the banking sector category through the Direct Listing mechanism, a common mechanism in all regional markets, which allows companies to be listed without an IPO (Initial Public Offering).
Also read: More firms set for listing on Qatar Stock Exchange
“We are thrilled to see Dukhan Banks shares successfully listed on Qatar Stock Exchange giving the investment community a promising investment choice in the banking sector category. Our unrelenting efforts to provide world-class Shariah-compliant services to our clients helped us today to boast a robust 150,000 customers base and assets worth over QAR 100 billion,” Chairman and Managing Director of Dukhan Bank Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani said.
For his part, Dukhan Bank Acting Chief Executive Officer Ahmed Hashem said: “we are happy with the successes achieved by the Bank, and we extend our thanks to our shareholders for their great confidence in the Bank and its management. As we believe in the importance of investing in the future, Dukhan Bank adopts an ambitious vision, promotes digital transformation, and specializes in customer-centric services.”
On this occasion, Acting CEO of the Qatar Stock Exchange Abdul Aziz Nasser Al Emadi expressed his pleasure for listing Dukhan Bank on the Qatar Stock Exchange as the second company to be listed on its main market through the direct listing mechanism.
He said: “The listing of this 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.” Starting from the second day of trading, Dukhan Bank’s stock price will be allowed to fluctuate by 10 percent up and down, as is the case for other companies listed on the market.