Investment Holding to debut on Qatar Stock Exchange today

14/08/2017 Argaam

Shares of Investment Holding Group began trading on the Qatar Stock Exchange (QSE) on Monday, August 14, 2017, under the symbol IGRD at a reference price of QAR 10 per share.

 

By noon the stock had plunged 12.5 percent to QAR 8.75 on the Qatar exchange.

 

The share’s price will have a fluctuation limit of ±10 percent from the second day of trading.

 

The group floated 49.8 million shares in its initial public offering (IPO) that took place during the period from January 8-22, 2017 at a price of QAR 10.1 per share (a nominal value of QAR 10 and issuance fees of QAR 0.1).

 

Investors subscribed to 24.8 million shares representing 29.8 percent of capital.

 

The IPO is the first to take place this year in the Qatari market before which the latest IPO was for Qatar First Bank in April 2016.  

 

Investment Holding was listed under industry sector bringing the total number of listed companies under this sector to ten companies from a total of 45 listed companies at QSE.

 

The Group was set up in 1975 as a trading and contracting company that provides supplies to construction market and was then converted as a Qatari holding company on May 11, 2008.

 

On December 12, 2016, the company obtained ministry of economy and trade’s approval to convert into a joint stock company with a capital of QAR 830 million divided into 83 million shares.

 

Share Price After Setting Fluctuation Limit (QAR)

Company

Date of listing

IPO price

Closing price

Highest price

Status on first day of listing

Qatar First

April 27, 2016

15.0

13.85

16.80

30%

Mesaieed Petrochemical

Feb. 26, 2014

10.2

49.5

56.3

Floated

Mazaya

Oct. 17, 2010

10.5

9.9

10.5

Floated

Al Meera

Oct. 28, 2009

20.1

24.5

24.5

20%

Vodafone

July 22, 2009

10.25

11.4

13.0

Floated

 

Company Profile

Company

Investment Holding Group

Stock market

Qatar Stock Exchange (QSE)

Establishment date

2008

Company’s core business

Investing in construction and contracting business in Qatar

Company’s status

Active

Nominal Value

QAR 10

Company’s capital

QAR 830 mln

 

Subsidiaries

Company

Stake

Trelco Ltd.

100.0%

Trelco Building Materials

85.0%

United Supplies

75.5%

Electro Mechanical Engineering

68.5%

Watermaster

63.3%

Consolidated Engineering Systems

60.4%

Construction Development Contracting & Trading

51.0%

Debbas Enterprice

51.0%

     

Investment Holding Group reported a net profit of QAR 21 million during the first half of 2017, a 25 percent Y-o-Y drop.

 

Investment Holding’s Income Statement (QAR mln)

Period

H1 2016

H1 2017

Variation%

Sales

236.8

217.9

(8%)

Net Profit

27.9

21.0

(25%)

Average number of shares (Share)

83.0

83.0

--

EPS (QAR/share)

0.34

0.25

(25%)

 

The group’s operating segments are the contracting segment which includes building activities, specialized contracting segment that includes mechanical, electrical and plumbing works, as well as security systems, trade segment that encompasses trading of food, chemicals, electrical, safety systems and building materials and water treatment segment that covers contracting for health care projects, swimming pools and water treatment.

 

Operating Segments (QAR mln)

 

Revenue

Net profit

Segment

H1 2016

H1 2017

H1 2016

H1 2017

Specialized contracting

145.6

126.5

32.6

24.5

Contracting

31.4

28.2

0.7

0.6

Trading

25.1

23.5

15.2

33.1

Water treatment

34.7

39.8

4.3

3.8

             

Income Statement since 2012 (QAR mln)

Period

2012*

2013*

2014*

2015

2016

Sales

501.5

475.0

484.0

561.6

448.0

Net Profit

43.5

31.2

37.3

109.4

102.6

Average number of shares (Share)

83

83

83

83

83

EPS (QAR/share)

0.52

0.38

0.45

1.32

1.24

*Virtual as the company owned 10 subsidiaries.

 

Significant Balance Sheet Items (QAR mln)

Period

2012*

2013*

2014*

2015

2016

H1 2017

Assets

605.1

599.4

1,021.0

982.0

1,054.4

1,405.4

Short-term loans

100.2

157.0

327.0

199.1

167.1

181.5

Long-term loans

0.2

0.3

1.1

4.4

6.2

4.0

Total liabilities

419.0

490.2

797.0

745.4

707.5

487.1

*Virtual as the company owned 10 subsidiaries.                                                    

 

 

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