Mazaya Qatar: listing delay is not our fault

The company launched its IPO in January.

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The chairman of developer Mazaya Qatar Real Estate Development has said the delay to the listing of its shares on the Qatar Exchange is beyond the company’s control.

“The company has completed all the necessary steps to comply with the terms and conditions required for the listing process, in accordance with the applicable laws issued by the Qatar Financial Markets Authority and Qatar Exchange,” he explained.

Mazaya Qatar announced in February this year that it planned to list within a month after closing the subscription to investors on the last day of January. It aimed to raise around QR500 million, although weak appetite among investors and calls for extension led the company to deny that it was to push back the deadline.

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“Mazaya Qatar Real Estate Development Company is currently awaiting the final listing approval from the relevant authorities, and it must be noted that there is a sustained follow-up with Qatar Exchange in order to obtain a specific date for the listing. As soon as this date has been established, Mazaya Qatar will inform the shareholders accordingly,” Al Naimi added.

The Qatar Financial Markets Authority approved the listing of Mazaya Qatar Real Estate Development Company, as the company says it has already met all the required listing conditions, and listing is currently in progress, in cooperation with other parties.

However, the actual date for listing remains elusive. Qatar has recently renamed and relaunched its stock exchange, now called Qatar Exchange from its previous title Doha Securities Market.