Investors trust in Qatar’s economy and its stock market remain strong. New listing in Qatar’s bourse will further add dynamism to investors’ sentiments. According to Rashid bin Ali Al Mansoori, CEO of the Qatar Stock Exchange (QSE) the bourse is in the process of listing several companies in the coming years. In fact, the QSE has prepared a list of 35 companies that are expected to be listed for the next five years, he said.
Baladna Food Industries is also preparing for an (Initial Public Offer) IPO to the Qatar Stock Exchange, which is eagerly awaited by the investors.
The line-up of new listings shows that the unjust siege imposed on Qatar has failed in denting investors sentiments and Qatari economy. Despite exiting of three stock holders of blockading countries from Qatari market, more than 100 stockholders and investors from all over the world have entered the market.
Qatari stock market is based on a strong economy characterized by high growth rates and sustainable development. Country’s financial market is one of the best international markets and the largest market in the Middle East within the index of MSCI.
Nearly nine companies are expected to increase their foreign ownership upto 49 percent. The figures released recently have also validated the strength of Qatar’s economy. Qatar’s quarterly Gross Domestic Product (GDP) at current prices (nominal) for the fourth quarter (Q4) of 2017 was estimated at QR160.88bn, registering a year-on-year increase of 9.4 percent compared to QR147.04bn, the estimate of Q4 of 2016.
When compared to previous quarter (Q3 of 2017) revised estimate of QR152.21bn, an increase of 5.7 percent was noticed, preliminary estimates released by the Ministry of Development Planning and Statistics show.
Analysts have also given thumbs-up to the Qatari stocks. A recent report by QNB Financial Services (QNBFS) said that Qatar’s macro picture remains resilientand the Import/export levels remain largely stable. Driven by attractive fundamentals, QNBFS is bullish on Qatari equities for this year. Announcing its Qatar equity strategy for 2018 recently, QNBFS noted it remained optimistic on the Qatari equity market on long-term.
“Within our coverage universe, we forecast a normalised 4.4 percent increase in aggregate earnings in 2018 followed by a more robust 2019 with 11.7 percent,”noted the report.
QNBFS’Qatari coverage list constituted a significant around 43 percent of the overall total market capitalisation (ex. QNB Group) of the Qatar Exchange.
The resilience of Qatar’s capital market shows that investors trust will remain bullish on Qatar and QSE will transform itself as one of the leading bourses in the region.
