Qatar Financial Market Authority (QFMA) has many requests for IPOs …

The Qatar Financial Market Authority (QFMA) has said it received four requests for initial public logo-qfmaofferings (IPOs) in 2013, but approval was accorded only to Mesaieed Petrochemical Holding Company.

The country’s equity market also witnessed the advent of 247.2mn new shares, leading to a total of 10.5bn listed shares, following the approval from the QFMA for capital increase of 13 listed companies against 57.9mn news share to a total 10.29bn from 14 listed companies in the previous year.

In 2013, the QFMA also received 11 requests for listing of government treasury bills and three government bonds. Besides, it also received three new requests relating to acquisition of Alternatifbank by Commercial Bank; Finansal Kiralama by Al Salam Company and Mannai Corporation’s acquisition of Gulf Laboratories.

The QFMA also said it received eight complaints and conducted 25 investigations in “suspected” violations during 2013.

Of the 25 investigations, four of them were forwarded from the previous year, the QFMA said in its annual report for 2013.

Of the eight complaints during 2013, three of them were received in the first quarter, one in the second quarter and two each in the third and fourth quarters.

Of the 25 investigations, three were in the first quarter, six in the second quarter, four in the third quarter and 12 in the fourth quarter.

The QFMA said 24 investigations were completed and one was pending before the investigation committee.

The authority had taken disciplinary actions on seven cases, of which two each were in the first and fourth quarters, and three in the second quarter.

Total number of appeals that came before the Appeals Committee stood at 17, of which 12 were registered in 2012 and have not been adjudicated yet.

In 2013, a number of reports about “suspected violations” during trading, whether related to impact on trading or money laundering, were submitted with taking the appropriate actions in this regard. A total of 10 reports were submitted, of which five came in the first quarter, two each in the second and third quarters, and one in the fourth quarter.

The QFMA said it had conducted 16 inspections (periodical and surprise) during the year.