Qatar Stock Exchange (QSE) announced that it has decided to admit the shares of Baladna Food Industries (“Baladna”) to trading in the market as of Wednesday December 11th 2019, after completing all necessary technical and administrative procedures. With the listing of Baladna, the number of listed companies on QE will increase to 47.

An official source at QSE said that the shares of Baladna will be listed with the code “BLDN” in the industrial sector. As usual, price floatation for Baladna will be permitted only for the first day of listing. Price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies. 

The source explained that there will be no change in the trading session during the first day of listing, except for the Pre-Open period as brokerage companies will be only permitted to enter buy/sell orders for Baldna shares starting at 8:30 am during the first listing day only; while the Pre-Open period for other listed companies will remain as usual, at 9:00 am.

The data will become  available at the brokerage firms effective Sunday, December 8, 2019, so investors will be able to submit their buy/sell orders directly to the brokers as of that date, the source added.

Baladna was established on December 2nd 2019 with an authorized capital of QR1.9bn, which is 100% paid in full. The Company’s primary objective is to manage, supervise and set the business strategy of BFI. The objects and activities of the Company under the AoA are to establish, own, hold, buy, sell, subscribe for, transfer and allot or redeem shares, loan notes, bonds and any interests in itself, any affiliate and / or any company or undertaking; in addition to invest any of the Company’s assets in funds, shares, bonds and financial instruments; as well as owning patents, commercial businesses, franchises, movable assets, personal and real property necessary or conducive for the furtherance of its objects.