Mazaya begins in Qatar Exchange

Mazaya Qatar Real Estate Development Company was admitted to trading on Qatar Exchange (QE) raising the number of listed companies to 43.

The opening price on the first day of trading was QR10 then trended in an upward direction reaching the upper limit to QR10.50. The last traded price was QR9.55. The number of executed transactions amounted to 1,977 totalling 3,860,440 million traded shares for a total value of QR38,170,347m. André Went, CEO of QE said, “We are pleased to welcome Mazaya Qatar Real Estate Development Company to the exchange-the company’s admission to our market represents the completion of a period of close cooperation between many parties involved in the IPO process. We look forward to Mazaya being a valuable addition to the listed companies traded on Qatar Exchange.”

“Qatar Exchange is actively seeking to increase the number of listed companies. We hope that Mazaya will be the starting point for a renewed interest for companies to use the public equity markets to finance growth through IPOs.”

Mazaya Qatar Real Estate Development Company was established on January 20, 2008. The company’s authorized and issued capital amounts to QR1bn which is 100 percent paid up. The book value amounted to QR 10.25 per share as of June 30, 2010.

Mazaya’s business activities include among others property development and investment, carrying out studies and real estate consultancy, construction works, maintenance work, property brokerage, proxy with commission agency and commercial and real estate representation, business marketing as well as the management of buildings and facilities. Mazaya also trade in equipment and materials, mechanical and electrical machinery, import and export.

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