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Al Mahhar Holding Successfully Lists Its Shares on Qatar Stock Exchange (QSE)

Al Mahhar Holding MHAR 1.46% 1.53 0.02
Doha – June 7th, 2023 The Al Mahhar Holding today successfully listed its shares on QSE’s venture market. The listing ceremony was attended by several representatives from the company and Qatar’s financial market. With the listing of Al Mahhar Holding, the number of listed companies on QSE’s Venture Market (QEVM) will increase to two. Al-Mahar Holding Company has been operating in the Qatari market since 1989 through its wholly owned subsidiary, (Petrotec Group) W.L.L. to enhance the level of support provided to the energy sector. Since then, the group's activity has evolved into diversified activities through eleven subsidiaries, in the State of Qatar and Kuwait, through the sale of equipment and spare parts, the provision of leased equipment for the energy and infrastructure sectors in Qatar, in addition to the provision of maintenance, repair and renewal services for the energy and infrastructure sectors. The shares of Al Mahhar Holding were listed through the “Direct Listing” mechanism, a common mechanism in all regional markets, which allows companies to be listed without an IPO. On this occasion, Mr. Abdul Aziz Nasser Al-Emadi, Acting CEO of the Qatar Stock Exchange, expressed his pleasure for listing Al Mahhar Holding Company on the Qatar Exchange Venture Market (QEVM)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.” The QSE is making unremitting efforts to increase the number of companies listed on the stock exchange by raising awareness of the advantages of listing on QSE’s market, Mr. Al-Emadi added. Al Mahhar Holding shares were listed today with the ticker MHAR. The company's share price was floated on the first trading day. The stock’s opening price was 2.890 Qatari riyals, and the last transaction price was 2.600 Qatari riyals. The highest price reached 4.900 Qatari riyals during the trading session and the lowest price reached 2.600 Qatari riyals. Starting from the second day of trading, the stock price will be allowed to fluctuate by 10% up and down, as is the case for other companies listed on the market. It is worth noting that the company's shareholders’ data have been made available to the brokerage firms as of Sunday 4 June 2023, to enable shareholders to submit their buy/sell orders directly to the brokerage firms.

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