Qatar’s stock market is set to welcome its first initial public offering in almost three years in a test of new regulations that Doha has introduced, hoping to compete with more active exchanges in the region.
That strategy includes building its equities market by opening it up to a wider investor base and introducing more listings. The absence of listings has created pent-up demand for new flotations and companies have realized this and are lining up. Barring volatility from global markets, activity in Qatar is expected to pick up in the first half of the year, Ali said, adding that up to six companies may go public through IPOs in the next 18 months.
Qatar missed an IPO boom that swept neighboring Saudi Arabia and the United Arab Emirates last year and market insiders attribute the dearth of deals in Qatar to the impact of the coronavirus pandemic and the focus on organizing the World Cup.