Press Releases

08 July 2006

Listing of Salam International Shares on Dubai Financial Market

In coordination with Doha Securities Market (DSM) and Dubai Financial Market (DFM), the Board of Directors decided to assign the 11th of July, 2006 a date to start trading Salam International shares on DFM.

The objective from listing Salam International Investment shares on DFM is based on strategic and long term plans and not on short term basis. This decision came in compliance with the company’s strategy that aims to expand, grow and achieve sustainable benefits for Salam shareholders.

In addition, the decision complies with the nature of the company, as a regional company with various activities and specialties. Salam International controls 25 subsidiaries specialized in information technology and communications, construction and development, energy and industry, luxury and consumer products and investment and real estate development in addition to other joint ventures with local, regional and international companies.

Furthermore, the expansion of the shareholders’ base with more than 11,000 shareholders, and over 60 nationalities, plays a role in listing on DFM due to considerate number of shareholders across the GCC.

The listing also comes in compliance with the heritage of Salam International in innovation, pioneering and founding creative basis and standards in the business atmosphere inside Qatar.

This listing is expected to add many benefits to shareholders, as listing in foreign markets will allow the company to be open up to new markets, which qualifies the company to seize additional growth opportunities and provide financing resources for the company’s ambitious strategies.

Furthermore, the listing will improve the company’s role and its regional activities. As a result, this will improve the turnover of the company’s shares and will provide opportunities for fair market price valuation, which is an additional advantage for the shareholders. It is worth mentioning that Salam International management concentrates on improving the performance of the company and achieving the greatest potential return possible by considering the solid and promising fundamentals for Salam International.

In order to increase realized revenues and profits, this step is expected to achieve a positive and promising results for the shareholders and the company.

The listing on DFM is simple with straightforward procedures. These procedures are as the following:

  • Shareholders should obtain an investor number from DFM.
  • Shareholders who desire to list their shares in DFM should apply for a share transfer at the Central Registration Department at DSM and they will transfer the shares on the same day.
  • Shareholders will place a buy/sell order by submitting these orders to authorized brokers.
  • In case shareholders wish to recover their shares from any of the two markets, they will have to request for a share transfer and there are no restrictions on transferring shares between the two markets.

Salam International is pleased to announce its agreements with brokerage companies in order to provide the best services for Salam’s shareholders regarding the trading of Salam’s shares on DFM. These firms are:

  1. Dalalah Brokerage Company
  2. Dalalah Islamic Company
  3. Qatar Ahli Bank

It is worth mentioning that the opening price on DFM on the listing day listing will be the same share price on DSM. Following that, it is likely that the share price on the two markets will vary as a result of supply, demand, and high and low limits fluctuations between both markets

Therefore, Salam International will be the first Qatari Public Shareholding company to be listed on DFM and the second listed on regional markets. Therefore, Salam International will be Qatar’s economic ambassador in this matter.