QGMD amends article of association for stock split

The Qatari German Medical Devices (QGMD), a leading manufacturer of medical devices in the Middle East, has amended its article of association during the company’s extraordinary general meeting on Sunday to prepare for the stock split enforcement which had been earlier announced by the Qatar Financial Markets Authority (QFMA).

During the meeting, QGMD Board of Directors, based on the QFMA’s stock split decision, placed the nominal value of a share to QR1 per share. The QFMA recently announced that it will enforce its decision of stock split of the companies listed at the Qatar Stock Exchange (QSE) on June 9. The same decision shall apply to investment funds’ units listed in the QSE.

Talking to The Peninsula on the sidelines of the event, QGMD Vice Chairman Talal Subah Al Abdulla said the move would further push small and medium-sized enterprises to be more involved in the market.

The QGMD boasts of a state of the art production facility designed by innovative providers from Germany, Switzerland, and Italy. The company entered into a cooperation agreement with Al-Jazira Healthcare group last year for the manufacture of medical devices to be used in Qatar as well as to meet the needs of the local market, while aiming to achieve self-sufficiency in this sector in line with the Qatar National Vision 2030.

The company also collaborated with the Hamad Medical Corporation’s Ambulance Service in April by developing color-coded syringes to help clinicians identify different types of drugs during emergency patient injections.

Al Abdulla added: “We try to improve our industrial area for the medicine and equipment in Qatar, based on our strategy. And for that, we try to push boundaries to make new products”.

Source from: The Peninsula