QInvest LLC, in its capacity as Listing Advisor and Offering Manager, and MEEZA QSTP in its capacity as the Issuer, announce the successful conclusion of the IPO share allotment and refunds to all investors who subscribed to the IPO.

As previously communicated, the offering prioritized individual investors, all individual orders have been allotted on a pro-rata basis, determined by oversubscription of 111%. Corporate investors (non-Qualified) will not be allotted any shares, in line with the conditions set out in the Offering Prospectus.

MEEZA is set to list on the Main Market of Qatar Stock Exchange during the course of July, subject to all the necessary regulatory and technical approvals. Interested investors may purchase the shares of the company through the trading platforms on the Qatar Stock Exchange, once listed.

 

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QInvest LLC, in its capacity as Listing Advisor and Offering Manager, and MEEZA QSTP in its capacity as the Issuer, announce the successful conclusion of the IPO on Monday June 19^th, 2023, with an oversubscribed order book for the total offering for 50% of the company’s issued share capital, where the offering has been covered by Qualified Investors and retail investors. Noting that MEEZA is set to list on the Main Market of Qatar Stock Exchange subject to all the necessary regulatory and technical approvals.

The offering was comprised of up to 324,490,000 shares (50% of the Company) sold at QAR 2.17[1] per share, implying an offering size of QAR 700,898,400 (excluding the offering costs of QAR 0.01 per Share). It should be noted that the offer price was set using the first ever book-building process in Qatar, which seems to have played a pivotal role providing retail investors with reassurance pricing was transparent and determined by the market at arms-length, which resulted in the book exceeding targeted demand.

Qualified Investors will be allocated 121,393,000 shares (representing 18.7% of the Company), in line with the Book Building exercise disclosed in the Offering Prospectus, while retail investors will receive 203,097,000 shares (representing 31.3% of the Company). The IPO has resulted in the Founders owning the remaining 50% of the company.

The offering prioritized individual investors, who will all be allotted shares on a pro-rata basis. Given the book was oversubscribed by retail demand only, corporate investors (non-Qualified) will not be allotted any shares, in line with the conditions set out in the Offering Prospectus. Interested investors may purchase the shares of the company through the trading platforms on the Qatar Stock Exchange, once listed.

Ahmad Al-Muslemani, Chief Executive Officer of MEEZA:

“We are not only pleased to have reached the final milestone of our IPO journey, but also to have reached it with this level of success amidst challenging market times. One of the primary drivers behind this IPO was to allow the people of Qatar to take part in MEEZA’s 15-year legacy, we welcome our new shareholder base and look forward to delivering continued growth and strong operational performance.”

Hussein Fakhreddine and Hussain Abdullah, Co-Chief Executive Officers of QInvest LLC:

“This IPO marks several market firsts, it is the first IPO in Qatar in over 3 years, MEEZA is the first exclusively (non-telecom) IT company to list on QSE, and the first to be transparently priced using the first qualified investor book-build process. We believe all these factors contributed to strong demand, which resulted in an oversubscribed orderbook despite challenging market conditions. For future IPOs, we hope to see Qatari companies use the book-building process, which has proven to be an efficient mechanism for both pricing, allocation and attraction of retail demand.”

Share allotment and refunds are expected to be completed by Monday June 26^th 2023, investors will receive notifications from their respective receiving banks. Listing date is targeted during the month of July, subject to the necessary regulatory approvals.

 

[1] Comprised of a nominal value of QAR 1.00, a premium of QAR 1.16 and Offering and Listing Fees of QAR 0.01

MEEZA, Qatar’s prominent end-to-end managed IT services and solutions provider, and Ajlan & Bros Technology Company (Ajlan Tech), one of Saudi Arabia’s most respected services and solutions companies, are pleased to announce their strategic partnership to expand IT services in Saudi Arabia.

The partnership brings together two industry leaders and regional powerhouses, each with complementary strengths and expertise. MEEZA, since its launch in 2008, has established itself as a pioneering IT service provider in Qatar with state-of-the-art data centres, Cloud Computing Platforms, and Artificial Intelligence powered cybersecurity services. Ajlan Tech, with its vast experience in business and technology, has amassed efficiencies and advantages across its diverse customer base.

This partnership is a significant milestone for both companies as it leverages the strengths and expertise of each partner to deliver world-class IT services to Saudi Arabia and abroad. Ajlan Tech will have access to MEEZA’s large portfolio of established services, while MEEZA will benefit from Ajlan Tech’s vast and pervasive partnerships with leading niche technology makers and providers worldwide.

“Partnering with Ajlan & Bros Technology is a testament to MEEZA’s commitment to expanding its IT services in Saudi Arabia and abroad,” said Eng. Ahmad Al Muslemani, CEO of MEEZA. “We are excited to collaborate with such a respected and established business brand and look forward to leveraging our strengths to deliver the best possible services to our customers.”

“We are thrilled to partner with MEEZA, a leading IT service provider in Qatar,” said Fahad bin Abdulaziz Alajlan, Managing Director of Ajlan & Bros Holding. “This partnership will allow us to enhance our IT services and deliver exceptional value to our customers. Together, we can leverage our strengths and expertise to make a significant impact in the Saudi IT market.”

The partnership between MEEZA and Ajlan Tech will not only benefit their respective businesses but also contribute to the economic growth of the markets served by the two regional leaders by providing cutting-edge IT services to businesses and organizations.

Pleased to announce that MEEZA in collaboration with Vertiv has won the runner-up position for the New design / build data center project of the Year award at the DCS Awards 2023.

This prestigious recognition highlights our unwavering commitment to excellence, innovation, and delivering outstanding services for our clients.

We are truly honored to be recognized among industry leaders and will continue to push boundaries and set new standards.

Thank you to our clients, partners, and employees for your unwavering support!

Further to the publication made on 29 May 2023 of the Intention to Float on the Qatar Stock Exchange, MEEZA and QInvest LLC acting in its capacity as Listing Advisor and Offering Manager on the Initial Public Offering of MEEZA QSTP LLC, hereby announces there will be no extension to the Individual and Corporate order subscription period.

The deadline for Individual and Corporate orders is on Monday 19 June 2023 (“Closing Date”), in line with the Offering Prospectus.

Electronic applications (e-IPO) will be accepted until 11:59PM local time, while physical applications will be accepted in line with the working hours of the receiving banks.

(A Qatar Science and Technology Park limited liability company (Public))

MEEZA QSTP LLC (Public) (“MEEZA”) to offer its shares through Initial Public Offering followed by a listing of all of its Shares on the Main Market of the Qatar Stock Exchange (“QSEMM”)

The proposed offering of securities to which this announcement relates is open in Qatar only to individual Qatari nationals and legal entities incorporated in Qatar.

• MEEZA is a leading end-to-end IT services provider within Qatar, including data center and colocation services
• The share capital of MEEZA is QAR 648,980,000, divided into 648,980,000 Shares of QAR 1 each
• 50% of the Shares, equivalent to 324,490,000 Shares, are being offered at an Offer Price of QAR 2.17 per Offer Share, making the total size of the Offering QAR 700,898,400 (excluding the offering costs of QAR 0.01 per Share)
• The Offer Price of the Shares comprising the share capital was determined by Qualified Investors in Qatar through the first Book Building process ever pursued to price an Initial Public Offering on the Qatar Stock Exchange
• The Company offered the Offer Shares to a set of Qualified Investors during a Book Building Subscription Period that commenced on 15 January 2023 and concluded on 6 March 2023
• 37.41% of the Offer Shares (constituting 121,393,000 Shares) were successfully allocated to Qualified Investors through a bidding process detailed in the “Details of the Offering” section of this announcement
• Offer Price includes the nominal value of QAR 1 per Share, a premium of QAR 1.16, and offering and listing fees of QAR 0.01 per Share
• 62.59% of the Offer Shares (constituting 203,097,000 Shares) are currently being offered to eligible investors, including Qatari citizens and legal entities incorporated in Qatar in accordance with the QSE Rulebook, QFMA Offering and Listing Rules and the Articles of Association of MEEZA (the “Individual and Corporate Investors”), at the Offer Price
• The Offer Period to subscribe to the IPO will be open from 6 June 2023 to 19 June 2023 (subject to any additional extension)
• MEEZA’s Founders are strongly committed to MEEZA’s future success and will be retaining at least 50% shareholding in the Company post-IPO
• QInvest LLC is acting as Listing Advisor and Offering Manager

 

Doha, Qatar, 29^th May 2023 – MEEZA QSTP LLC (Public) (“MEEZA”, the “Company” or “we”), the leading managed IT and data center service provider in the State of Qatar (the “State”), is pleased to announce that it has obtained the required regulatory approvals of the Qatar Financial Market Authority (“QFMA”) and the Qatar Stock Exchange (“QSE”) to offer 324,490,000 ordinary fully paid-up shares (the “Offer Shares”) by way of initial public offering (the “Offering”), followed by a listing of all of the Company’s Shares on the QSEMM.

Before deciding to invest in the Shares, investors should consult the Offering Prospectus approved by the QFMA which is available at the Company’s website at www.meeza.net/ipo and the Listing Advisor and Offering Manager website at www.qinvest.com/media-center/press-release. The approval of the QFMA of the Offering Prospectus shall not be considered to be an approval of the Company’s financial and economic viability or of the related evaluation outcomes.

1. KEY INVESTMENT HIGHLIGHTS

MEEZA is characterized by the competitive strengths and differentiators outlined below, which are expected to allow the Company to successfully achieve its commercial objectives and implement its strategy of maximizing shareholder value by capitalizing on its unique position in the ICT industry:

• Leading position in the drive for digitalisation:
  • The world is experiencing a data boom, creating significant demand for data centers and IT services, a landscape in which we have a solid position.
  • The growth of data being created and used is expected to continue for the foreseeable future, driven by the continuous enterprise and government digitalisation efforts, cloud services, streaming and gaming platforms take-up, proliferation of smart devices with higher resolution and use of big data for data analytics and artificial intelligence.
  • Customers get the best value from IT service providers in a market like Qatar, where energy prices and telecoms connectivity are favourable and where supply chains are reliable.
  • MEEZA is the data center pioneer of Qatar, commanding approximately 50% of the Qatari market’s data center capacity, owning and operating 5 state-of-the-art data centers with a total capacity of 24.4MW.
• Unique positioning as the leading end-to-end IT services provider in Qatar:
  • MEEZA QSTP LLC (Public) provides fully integrated, end-to-end IT services in the State of Qatar.
  • Our product offering includes but is not limited to data center and colocation services, managed services, solution services and cloud services.
  • We operate as the only IT services provider in Qatar that integrates 5 state-of-the-art data centers (known as M-Vault) with our IT services portfolio to provide tailored end-to-end solutions.
  • M-Vault data centers boast a guaranteed uptime of 99.98%, currently offering a total capacity of 24.4MW, with an additional c. 19.5MW of total capacity expansion currently being contemplated by management over the next 2 to 3 years to keep up with growing demand.
• Long-term customer relationships coupled with highly visible cash flows:
  • We take pride in our client base which mainly comprises of strategic sovereign entities, international hyper-scalers, and large corporates operating in the State of Qatar.
  • Most contracts are long-term in nature, with some key data center related contracts extending up to 15 years.
  • This provides us with recurring revenue streams, high visibility on cash flows and allows for cross-selling new managed services and other ancillary IT services to our existing blue-chip client base.
• Strong profitability and solid financial position:
  • Now that we have achieved economies of scale, MEEZA is now enjoying strong revenue growth and record annual profit margins year-on-year.
  • We have consistently recorded strong and stable growth over the last 3 years with revenue growing at a 11.3% CAGR between 2020 and 2022, coupled with an EBITDA CAGR of 10.9% over the same period, driven by a significant growth in demand for data center capacity and ancillary IT services.
  • MEEZA has also recorded a high profitability to shareholders, with net income growing at a CAGR of 22.4% over the last 3 years to reach QAR 52.1 million in 2022 (c. 15% net income margin).
  • In addition, MEEZA has maintained a healthy financial position, underpinned by a growing fixed asset base, significant cash reserves, and low leverage.
• Highly experienced senior management team
  • Our senior management team has significant years of professional experience in the IT industry and a track record of successfully delivering, managing and integrating key strategic projects.
  • We boast a mix of local Qatari leaders coupled with the global expertise of foreign senior management members with track records at some of the world’s largest technology and service provider companies in the world.

1. INDICATIVE TIMETABLE OF KEY EVENTS

Publishing of the Offering Prospectus, newspaper announcement and marketing campaign to launch	29 May 2023
Subscription Period for Individual and Corporate Investors opens	6 June 2023
Subscription Period for Individual and Corporate Investors ends	19 June 2023
Allotment of Offer Shares and Refunds	25 June 2023
Issuance of the updated commercial registration certificate of the Company, reflecting status as QSTP – LLC (Public)	9 July 2023
Expected first day of trading of the Shares on the QSE	During July 2023 and subject to obtaining the listing date confirmation from the respective regulatory authority

For further details on the Offering, including the Offering Prospectus and other information regarding the Company, please visit the website of the Company at https://www.meeza.net/ipo

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QInvest LLC, in its capacity as Listing Advisor and Offering Manager, has announced the successful closing of the first ever book building subscription in Qatar, for the initial public offering of MEEZA QSTP LLC on the Qatar Stock Exchange Main Market.

The book building period successfully concluded on 6 March 2023, in line with previous announcements issued by QInvest LLC. The Order Book closed with the successful subscription of Qualified Investors above the minimum threshold of 30% of the offered shares as required by the Qatar Financial Markets Authority (QFMA). The book building subscription, totaling 37.41% of the total Offering, comprised of a group of seven institutional investors led by Qatar’s Sovereign Wealth Fund – Qatar Investment Authority (“QIA”) – as well as the civil and military pension funds which are managed by the General Retirement and Social Insurance (“GRSIA”), including General Authority for Minors Affairs (“GAMA”). Other investors were Qatar Insurance Company (“QIC”) and Doha Insurance Group (“DIG”), and an investor from the private sector Al Khor Holding (“AKH”).

The balance of 62.59% of the Offering will be available for subscription by individuals and corporates after completion of the necessary regulatory filings. The Order Book was closed at a final offer price of QAR 2.17 per share[1].

Commenting on the successful conclusion of the book building, Hussain Abdulla, Co-Chief Executive Officer of QInvest LLC, said: “QInvest is pleased to be contributing to the successful development of Qatari equity capital markets, by following the book building mechanism to transparently price and launch the public offering to individual and corporate investors. This development represents a step towards opening the door to international investors for future equity capital markets and IPO initiatives”.

Hussein Fakhreddine, Co-Chief Executive Officer of QInvest LLC, commented on the conclusion of the book building period, saying: “Final pricing of the shares driven by the investors themselves is a testament of the effectiveness of the book building mechanism to transparently price the IPO based on supply and demand, factoring in market conditions and orders received from Qualified Investors”.

The public offering to individual and corporate investors is expected June 2023 (subject to the completion of the necessary regulatory filings), and will be comprised of 203,097,000 shares (62.59% of the Offering), at the offer price of QAR 2.17 concluded by the book building mechanism; further detailed announcements will be made in due course.

QInvest would like to take this opportunity to thank the relevant regulatory authorities, Qualified Investors, and MEEZA senior management for their support throughout the process, resulting in the successful conclusion of the first ever official book building exercise in Qatar.

This announcement relates specifically to conclusion of Book Building Subscription Period for Qualified Investors in accordance with the book building mechanism issued by QFMA and the terms and conditions of the Application for the Irrevocable Commitment to Purchase Shares in the Company in accordance with the Book Building Mechanism.

Final Order Book has been made publicly available on QInvest website www.qinvest.com

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New service delivers superior cloud database performance, scale, and availability while meeting data residency requirements

MEEZA, Qatar’s end-to-end managed IT services and solutions provider, has expanded its managed services portfolio to offer Oracle Exadata Cloud@Customer, a high performing and widely available platform for mission-critical Oracle databases. Oracle Exadata Cloud@Customer delivers managed cloud database services with a subscription model inside customer’s data centers, enabling them to meet data residency and security requirements.

Commenting on the achievements, MEEZA CEO Eng. Ahmad Abdulla Al-Muslemani said:

“We are delighted to offer Oracle Exadata Cloud@Customer to our customers across various industries in Qatar. We can now help our customers to develop their IT architectures across hybrid cloud infrastructure, leading to a more secure and improved operational performance.”

MEEZA offers a comprehensive portfolio of managed services and value-added solutions, including tenant management, migration, optimization, health-check monitoring, and advanced security services, to streamline platform management, enhance cost-effectiveness, and deliver proven business value to its customers. By leveraging MEEZA’s cutting-edge managed services portfolio, businesses can achieve consistent and predictable performance while minimizing their operational expenses. In addition, customers now benefit from flexible subscription options (BYOL or Full PaaS), a fully managed environment, and out-of-the-box options with Oracle Exadata Cloud@Customer native cloud functionalities offered to the Qatari market for their primary and disaster recovery requirements.

Built using the latest Oracle Exadata technology, Oracle Exadata Cloud@Customer delivers the highest cloud database performance, scale, and availability, enabling organizations to consolidate and run all types of database workloads faster and with significantly less management. The system comes with a pay-per-use subscription model, cloud automation, unified control plane, and cloud security. Customers can choose to run Oracle Autonomous Database, Exadata Database Service, or both simultaneously.It helps organizations take full advantage of cloud economics by automating time-consuming and expensive manual management tasks and enabling online consumption scaling, so customers only pay for the resources they use.

Qatari customers across industries can now adopt the new service to support their cloud transformations without trade-offs in scale, data sovereignty compliance, security and control, using Oracle Cloud Infrastructure (OCI) services hosted in MEEZA’s local data centers.

MEEZA is a well-established managed IT service provider in Qatar with extensive skill set in managing complex environments, full understanding of country regulations and backed by government agreements and strategic partnerships. It offers scalable, highly available and resilient cloud services that are used to improve customer engagement, facilitate the transformation of products and services, and empower businesses.

Shane Fernandes, Vice President – Cloud Systems, Middle East and Africa, Oracle said:

“The combination of Oracle’s expertise and MEEZA’s first class professional services will enable Qatar businesses to fast-track their cloud transformation process based on their individual and specific industry needs. With Oracle Exadata Cloud@Customer, organizations  can now take advantage of cloud simplicity and cost effectiveness while meeting data residency and security requirements.”

A Qatar Foundation venture, MEEZA is committed to maintaining its position as a fast-growing player in cloud computing services, both in regional and international markets. It continues to innovate and offer cost-effective IT solutions and services to help its clients focus on their core business, and this partnership with Oracle furthers that mission.

Qatar University (QU) signed a Memorandum of Understanding (MoU) with MEEZA to bolster scientific, technical, research, and administrative cooperation between the two institutions. The MoU aims to explore opportunities to develop new technology skillsets and human capital locally in Qatar.

The MoU was signed by Dr. Hassan Al-Derham, President of Qatar University, and Eng. Ahmad Al-Muslemani, CEO of MEEZA. Under the MoU, Qatar University and MEEZA will collaborate on joint projects to enhance existing skillsets in the domains of IT and technology among students, exchange experiences, and exchange vital and beneficial information, including newsletters, journals, studies, statistics, and other data.

The signing of the Memorandum of Understanding comes within Qatar University’s framework to support MEEZA, Qatar’s prominent end-to-end managed IT services and solutions provider to launch the new initiative – MEEZA Academy – which aims to select and train college students and fresh graduates to develop the skills in information and communication technology (ICT) in line with the Cyber Security pillar of Qatar Vision 2030.

Dr. Hassan Al-Derham, said: “Qatar University has always sought to appreciate the vital role played by the leading Qatari information technology companies in serving the country and raising awareness among the younger generations of the various technological developments and innovations around the world. This will help the country  develop new technology skillsets and build local human capital.”

Commenting on the initiative and the collaboration, Eng. Ahmad Al-Muslemani said: “We are excited to introduce another initiative that will help nurture capable hands in the IT industry among the younger generation to support both human capital development and IT pillars of the Qatar National Vision 2030. The initiative will hone students’ IT skillsets to meet the changing demands in the industry and create opportunities for hands-on internship and potential future full-time employment.”

He added, “It is a great privilege to collaborate with Qatar University in order to enhance Qatar’s information technology landscape. We believe that this Memorandum of Understanding will serve as a lifelong learning opportunity for the selected students while also promoting Qatar as a leader in managed IT services and solutions in the region. We look forward to the fruitful implementation of the terms of the agreement in achieving the goals of Qatar National Vision 2030 and supporting Qatar’s IT sector’s growth.”

The collaboration will also enable both parties to conduct joint studies and research, organize and supervise conferences, meetings, and training that contribute to achieving the objectives of the initiative, as well as cooperate on any other possible respective fields of mutual interest for both parties.

To facilitate the implementation of the MoU, Qatar University and MEEZA will look into forming work committees and joint teams and holding consultative meetings to collaborate in the areas stated in the memorandum. The two parties will also review the execution of articles of the MoU and evaluate the realized outcomes on regular basis.

Through the initiative, the selected students will receive specialized advanced training in Cyber Security, Cyber Attack and Defence, Rookies Security, Security Awareness, Threat Hunting APT, Hunting in the MS cloud, AWS Security Hands-on, and more.

 

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About Qatar University:

Qatar University is one of the leading institutions of academic and research excellence in the GCC region.  It provides high quality undergraduate and graduate programs that prepare competent graduates, primed to shape the future of Qatar.  The organization’s strong relationship with Qatari society is reflected in its community service efforts and in its vibrant research portfolio that addresses relevant local and regional challenges, advances national goals towards a knowledge-based economy, and contributes actively to the needs and aspirations of the society.

www.qu.edu.qa

Further to the announcements made on 15 January 2023 and 26 January 2023, QInvest LLC acting in its capacity as Listing Advisor and Offering Manager on the potential initial public offering (the “IPO”) of MEEZA QSTP LLC (“MEEZA” and / or the “Company”), hereby announces the following with regards to the Book Building Subscription Period which started on 15 January:

• The Company and Offering Manager have approved revising the Price Range from QAR 2.61 to QAR 2.81 to become QAR 2.48 to QAR 2.61 per Offer Share (“Revised Price Range”).

• Qualified Investors will have until 3:00PM local time on 6 March 2023 to revise and submit their orders on the basis of the Revised Price Range.

• The Offering Manager will make further announcements in due course.

• This announcement relates specifically to the Book Building Subscription Period for Qualified Investors in accordance with the book building mechanism issued by the Qatar Financial Markets Authority.

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