EGA meeting approves Dukhan Bank’s listing on QSE

EGA meeting approves Dukhan Bank’s listing on QSE

The extraordinary general assembly (EGA) meeting of Dukhan Bank has approved the conversion of the bank to a Qatari public shareholding company, a direct listing of the share capital of the bank on the main market of the Qatar Stock Exchange (QSE), and increasing the level of foreign ownership of the shares of to 49 percent.

The EGA also approved the valuation reports determining the valuation of the bank prepared by independent evaluators. The bank appointed the KPMG Qatar branch (KPMG) and Access Company (Moore) as the independent valuators to assess the bank’s assets and liabilities in order to prepare the independent valuation reports

The EGA approved the valuation and applicable price of the shares of the bank which will be used in the direct listing process at $1.19 per share, as approved by the board and the QFMA.

Amending the memorandum of association and the articles of association EGA also approved the proposed amendments to the memorandum of association and the articles of association of the bank. These proposed amendments are primarily for the purpose of converting the bank to a Qatari public shareholding company and the direct listing of the bank’s shares in the main market on the QSE.

The amendments to