Doha: HE Governor of Qatar Central Bank and Chairman of Qatar Financial Markets Authority (QFMA) Sheikh Bandar Bin Mohammed Bin Saoud Al-Thani has issued QFMA's Board Decision No. (8) of 2025 concerning the Offering and Listing, and Mergers and Acquisitions Rules. His Excellency affirmed that the issuance of these new rules is part of Qatar's efforts to attract foreign investments and enhance the legislative framework of its capital market.
According to Qatar News Agency, the new rules aim to align Qatar's capital market with international standards by simplifying the listing and offering processes for companies and ensuring transparency and investor protection. The QFMA is committed to developing the market's infrastructure and creating a safe investment environment.
His Excellency noted that the new rules will address challenges within the Qatari capital sector and support the growth and diversity of the national economy. The rules are part of the Third Financial Sector Strategic Plan, emphasizing the continuous development of legislative and regulatory frameworks to attract local and international investors.
The rules integrate existing legislation concerning securities' listing and trading while introducing new provisions to facilitate procedures for listed companies and protect investor rights. CEO of QFMA, Dr. Tamy Bin Ahmad Al Binali, highlighted that the rules were subject to public consultation, involving input from all stakeholders in the Qatari financial markets.
The rules replace the previous Offering and Listing of Securities on the Financial Markets Rulebook and include a comprehensive structure for mergers and acquisitions. They introduce a single offering and listing advisor and mechanisms for determining reference prices through pre-listing auctions. There are also new requirements for sukuk and bonds to appoint a trustee to protect investor rights.
Additional amendments include a mandatory two-year period before transferring to the main market and new disclosure obligations in both Arabic and English. The rules permit up to 30 percent sale of shares during the first year of direct listing on the second market and regulate acquisitions, including compulsory offers when certain thresholds are reached.
The new regulations also allow REITs to borrow up to 50 percent of gross asset value. Companies must comply with the new rules within a year from their publication in the Official Gazette, with possible extensions granted by the Authority's Chairman.
The rules are based on international benchmarks and aim to enhance the Qatari capital market's attractiveness, transparency, and efficiency, aligning it with best practices globally.