Investment Holding to debut on Qatar Stock Exchange today

Shares of Investment Holding Group began trading on the Qatar Stock Exchange (QSE) on Monday, August 14, 2017, under the symbol IGRD at a reference price of QAR 10 per share.

By noon the stock had plunged 12.5 percent to QAR 8.75 on the Qatar exchange.

The share’s price will have a fluctuation limit of ±10 percent from the second day of trading.

The group floated 49.8 million shares in its initial public offering (IPO) that took place during the period from January 8-22, 2017 at a price of QAR 10.1 per share (a nominal value of QAR 10 and issuance fees of QAR 0.1).

Investors subscribed to 24.8 million shares representing 29.8 percent of capital.

The IPO is the first to take place this year in the Qatari market before which the latest IPO was for Qatar First Bank in April 2016.  

Investment Holding was listed under industry sector bringing the total number of listed companies under this sector to ten companies from a total of 45 listed companies at QSE.

The Group was set up in 1975 as a trading and contracting company that provides supplies to construction market and was then converted as a Qatari holding company on May 11, 2008.

On December 12, 2016, the company obtained ministry of economy and trade’s approval to convert into a joint stock company with a capital of QAR 830 million divided into 83 million shares.

Investment Holding Group reported a net profit of QAR 21 million during the first half of 2017, a 25 percent Y-o-Y drop.

The group’s operating segments are the contracting segment which includes building activities, specialized contracting segment that includes mechanical, electrical and plumbing works, as well as security systems, trade segment that encompasses trading of food, chemicals, electrical, safety systems and building materials and water treatment segment that covers contracting for health care projects, swimming pools and water treatment.

*Virtual as the company owned 10 subsidiaries.

*Virtual as the company owned 10 subsidiaries.