Naufar advances digital transformation through strategic partnership with MEEZA

MEEZA & Naufar signing ceremony

Naufar, a leading healthcare institution in Qatar, is set to revolutionize its digital capabilities through a strategic collaboration with MEEZA, a prominent Managed IT Service and Solutions provider in the state of Qatar, recently listed publicly, signifies a pivotal. In a landmark move toward comprehensive IT infrastructure revitalization, Naufar will leverage MEEZA’s expertise to migrate to the secure, compliant, and innovative framework offered by the Azure cloud platform, hosted within Microsoft’s datacenter region in Qatar.

Recognizing the global emphasis on digital integration and advancement across industries, the collaborative initiative between Naufar and MEEZA along with the strong partnership with Microsoft underscores a joint dedication to excellence and innovation within the healthcare sector. This partnership signifies a pivotal step towards enhancing Naufar’s operational efficiency, fortifying data security, and enriching patient care services through the utilization of state-of-the-art Microsoft Azure capabilities.

Mr. Saleh Al Muhanadi, Chief Operation Officer of Naufar, remarked on the partnership with MEEZA:” This collaboration marks a journey of growth, innovation, and unwavering commitment. As we embark on this new phase with Meeza, we eagerly anticipate the comprehensive digital transformation it will bring. This advancement is not just a reflection of our dedication to continual service improvement, but it also aligns with our commitment to employ the latest technological solutions that would help individuals and families to overcome substance use disorders, offering evidence-based, personalized treatments and recovery plans, complemented by our innovative approach to precision medicine”.

MEEZA’s renowned expertise in delivering state-of-the-art IT solutions in Qatar, combined with the robust security and leading AI capabilities of Microsoft’s hyperscale Azure cloud platform in Qatar, lays the foundation for a future-ready platform at Naufar. This collaboration is set to streamline operations, prioritize data security, enhance the overall patient experience, and pave the way for advanced analytics in mental health and healthcare research. Notably, this partnership builds upon a successful seven-year alliance between Naufar and MEEZA, dedicated to providing end-to-end IT services in Qatar.

Mr. Mohsin Nasser Al-Ghaithani, Acting Chief Executive Officer, stated: “MEEZA’s partnership with Naufar emphasizes our dedication to spearheading digital transformation in Qatar. By leveraging the capabilities of the Microsoft Azure cloud platform, Naufar is fully equipped to address the ever-evolving demands of the healthcare sector.”

“We at MEEZA are committed to providing excellence, and I am confident that cooperation between all teams will achieve amazing results, which will push us towards a bright and prosperous future together, as we benefit from the latest technological capabilities to overcome challenges, open new opportunities, and achieve unprecedented successes in various fields”.

For her part, Lana Khalaf, General Manager, Microsoft Qatar said, “The migration to Azure cloud platform hosted in our Qatar’s datacenter region will provide Naufar with the agility, security, and scalability it needs to deliver exceptional patient care in the digital age. Together with our partner MEEZA, we are committed to supporting Naufar on its journey to digital transformation and look forward to seeing the positive impact this partnership will have on the lives of patients across Qatar.”

This partnership stands as a pivotal benchmark in the industry’s shift towards digital transformation. It is anticipated that other institutions will follow suit in embracing cloud solutions to elevate their service delivery standards.

 

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About MEEZA

MEEZA QSTP-LLC (Public) is an established end-to-end managed IT services and solutions provider founded in Qatar Science & Technology Park (QSTP), that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions, while providing the Qatari people and others throughout the region with opportunities to undertake fulfilling careers in the IT industry.

MEEZA is a publicly quoted company on the Main Market of Qatar Stock Exchange, open to customers and investors with share capital of 648,980,000 QAR.

The company has five Tier III certified data centers, known as M-VAULTs, offering a guaranteed uptime of 99.98% built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks.

MEEZA’s offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence (AI).

 

About Naufar

Naufar established based on Emiri Decree (17) for the year of 2015, operates under the umbrella of the Ministry of Public Health. Accredited by a range of distinguished accreditation organizations and is recognized as a leading provider of substance use disorder treatment in Qatar and the region.

Naufar offers a comprehensive suite of medically driven, evidence-based treatments for substance use disorders, adhering to the latest international guidelines, to the state of Qatar and the region.

This includes both outpatient and inpatient residential treatments, ensuring a holistic approach to recovery. As a voluntary, self-admission facility, Naufar upholds the highest standards of confidentiality.  As a voluntary, self-admission facility guarantees anonymity and ultimately helps individuals and families overcome substance use disorders by providing evidence-based, personalised treatment and recovery and an innovative precision-medicine approach.

 

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

MEEZA records 24% increase in revenue and 29% increase in net profit for the first nine months of 2023

Doha, Qatar, 26 October 2023: MEEZA QSTP LLC (Public) (“MEEZA” & “the Company”) announced its financial results for the nine months ended 30 September 2023, marking the Company’s first announcement since listing its shares on the Qatar Stock Exchange.

Financial Summary

In the first nine months of 2023, MEEZA’s Net Profit reached QR 46.0 million, representing a 29.0% (or QR 10.4 million) increase over the same period last year and the highest nine-month period profit in the Company’s history, mainly driven by revenue growth.  Net Profit Margin for the period was 14.8%, increasing 0.6pp year-on-year with Earnings Per Share (EPS) of QR 0.07.

The Company’s revenue grew by 23.8% (or QR 59.8 million) to reach QR 311.2 million, led by growth in the IT Solution Services and Managed Services segments.

EBITDA for the period increased by 4.1% (or QR 3.7 million) to reach QR 92.8 million, primarily driven by revenue growth and continued cost optimization. EBITDA margin declined from 35.5% to 29.8% due to a higher contribution of IT Solution Services revenue to the overall revenue mix.

MEEZA boasts a healthy financial position with a cash balance of QR 258.6 million, in addition to QR 1.2 billion in future committed contract value.

 

QAR million 9months (2023) 9months (2022) % Change
Revenue 311.2 251.4 23.8%
EBITDA 92.8 89.1 4.1%
Net Profit 46.0 35.7 29.0%
EPS 0.07 0.05 29.0%

 

Most notably during the third quarter, the Company officially listed 100% of its shares on the Qatar Stock Exchange (ticker: MEZA) on 23 August 2023. The listing came after a successful IPO that was oversubscribed and involved the first ever book building exercise in the Qatar Stock Exchange’s history.

MEEZA also signed a Liquidity Provision Agreement with Qatar National Bank Financial Services (QNB FS) to maintain transaction volume and price stability.

Click Here to download First Nine-Months of 2023 Financial Statement

 

 

MEEZA appoints a new Acting CEO

MEEZA QSTP-LLC (Public), the leading Managed IT and Data Center service provider in Qatar has announced the appointment of Mr. Mohsin Nasser Al-Ghaithani as its acting Chief Executive Officer.

With over 20 years of professional experience in the IT industry, Mr. Mohsin is very well placed to lead MEEZA as he had amassed significant insights into the business and the ICT industry, legal, contract management, procurement, business planning, and leadership. Also, he can set policies and implement regulatory and administrative changes to achieve company’s goals.

Mr. Mohsin Al-Ghaithani will lead MEEZA along with its experienced senior executive team onto the next chapter just as the market, locally and regionally, has developed a great appetite for ICT services in the era of Artificial Intelligence, Big Data, Internet of Things, and Cloud Computing.

This decision comes after the resignation of Eng. Ahmad Abdulla Al-Muslemani from his position as board member and CEO of MEEZA.

Msheireb Properties Announces Arrival of New MEEZA Office to Msheireb Downtown Doha

Msheireb Properties announced the opening of MEEZA’s new office in the world’s first fully built smart and sustainable city district at Msheireb Downtown Doha (MDD). MEEZA Qatar’s Biggest Data Centre service Provider will be an addition to  MDD’s impressive list of technology tenants.

Commenting on the progress, Msheireb Properties CEO Eng. Ali Al Kuwari said, “We are extremely well positioned, as a country and as a company to meet real estate demand that is expected to pick up steadily ahead of the 2030 Asian Games. Our spaces are designed with the person in mind and executed with care for the environment – two considerations that will continue to play a significant role in decision-making. We have already seen that Msheireb Downtown Doha is becoming a hub for technology and services companies and are eager to welcome MEEZA.”

MEEZA’s new office opening in Msheireb Downtown Doha reflects its prime position as the preferable business district thanks to its easy accessibility, world class facilities, and its prime location in the heart of Doha.

Eng. Ahmad Al-Muslemani, Chief Executive Officer, MEEZA, said: “We are thrilled to embark on this new chapter as we open our new office in Msheireb, Heart of Doha. This milestone is a testament to the power of collaboration and innovation, which have been the cornerstones of our journey with Msheireb over the last eight years.  This decision will  not only underscores our commitment to sustainability but also highlights the significant role MEEZA has played in shaping Msheireb Downtown Doha into the remarkable smart city it is today.”

Eng. Ali Al-Kuwari added: “We are delighted to welcome MEEZA to our smart and sustainable city district Msheireb Downtown Doha. We look forward to welcoming more companies and attracting new investments to contribute to Qatar’s thriving economy.”

With a total area of approximately 2131 square meters, the new MEEZA office at Msheireb Downtown Doha located in Building 2, Street 981, will leverage the most advanced smart services and technologies. It features state-of-the-art facilities and amenities, including high-speed internet, cutting-edge conference rooms, and on-site dining options. The office also offers a range of flexible office solutions to meet the evolving needs of MEEZA’s clients, from individual workstations to private offices and spaces.

Msheireb Downtown Doha is part of a ground-breaking development that is recognised as one of the most innovative and sustainable real estate projects in the world. The development features cutting-edge technology and is designed to maximise energy efficiency while reducing its carbon footprint. The district has adopted the latest advanced smart services and applications for a new fully digital experience accessible to tenants, residents, and visitors. It has also demonstrated a commitment to sustainable living and business practices with one of the highest concentrations of gold or Platinum LEED (Leadership Energy and Environmental Design) certified sustainable buildings globally.

Msheireb Properties is a leading sustainable real estate developer, committed to creating sustainable, livable, and vibrant communities that foster social, environmental, and economic well-being. The company’s portfolio includes some of the most innovative and ambitious projects in the region, including Msheireb Downtown Doha, one of the largest and most sustainable downtown regeneration projects in the world.

 

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About MEEZA:

MEEZA QSTP-LLC (Public) is an established end-to-end Managed IT Services and Solutions provider founded in Qatar Science & Technology Park (QSTP), that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions, while providing the Qatari people and others throughout the region with opportunities to undertake fulfilling careers in the IT industry. MEEZA is a publicly quoted company on the Main Market of Qatar Stock Exchange, open to customers and investors with share capital of 648,980,000 QAR. The company has five Tier III certified data centers, known as M-VAULTs, offering a guaranteed uptime of 99.98% built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks. MEEZA’s offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence (AI).

 

About Msheireb Properties

Msheireb Properties is a subsidiary of Qatar Foundation for Education, Sciences and Community Development and Qatar’s leading sustainable property developer, supporting the goals of Qatar’s 2030 Vision and Qatar Foundation’s objectives.

Its mission is to change how people think about urban living and improve their overall quality of life through innovations that encourage social interaction, respect for culture, and greater care for the environment.

Its signature project, Msheireb Downtown Doha, is one of the smartest, most sustainable city districts, which employs a new approach to urban planning by combining traditional methods and modern technology to preserve Qatar’s environment and cultural identity. All buildings are either Gold or Platinum LEED-certified.

It is an integrated city that embraces modern, fully furnished residential units, a range of mixed-use and commercial buildings that offer a wide array of retail and business services, and cultural facilities. It is also the home to Msheireb Museums, Mandarin Oriental Hotel, Al Wadi Hotel – MGallery by AccorHotels, Park Hyatt Hotel, Msheireb Galleria, and Barahat Msheireb- the biggest open-air covered pedestrian square in the region.

MEEZA successfully listed on Qatar Stock Exchange main market

MEEZA, the leading managed IT and data center service provider in Qatar, has successfully listed its shares on Qatar Stock Exchange’s (QSE) main market on August 23, 2023, in the presence of a group of distinguished guests, MEEZA top management, representatives from regulatory and supervisory authorities, investors and other stakeholders.

The bell rang at 9:30 a.m. to mark the commencement of MEEZA’s shares trading on the Qatar Stock Exchange.

The company was listed with the ticker MEZA with the ISIN code QA000PK2KD10 following a successful subscription for its shares through Initial Public Offer (IPO). MEEZA targets a share capital of QAR 648,980,000, comprising 648,980,000 shares with a nominal value of QAR 1.00 per share.

The first day of trading in MEEZA stock closed at a price of 2.30 Qatari Riyals, representing a market capitalization of 1.49 billion Qatari Riyals.

From the first day of trading, eligible investors for trading in the shares include all Qatari and non-Qatari investors permitted to trade in the shares in accordance with the Qatar Stock Exchange Rulebook, the Qatar Financial Market Authority Listing Rules, and the Qatar Central Bank regulations.

Commenting on the successful listing, Sheikh Hamad bin Abdullah Al Thani, MEEZA Chairman, said:

“Today marks a significant milestone in the MEEZA transformation journey as the company’s shares were successfully listed for trading on the Main Market of Qatar Stock Exchange. This unprecedented step in the managed end-to-end IT services sector will give the investment community a promising investment option to grow their wealth and contribute to Qatar’s digital economy industry. I also take this opportunity to express our sincere appreciation to all the regulatory and supervisory authorities for their cooperation that culminated in this achievement, which will enhance MEEZA’s exceptional track record.”

Eng. Ahmad Abdulla Al-Muslemani, MEEZA Chief Executive Officer, said:

“I am elated today to see MEEZA successfully listed on the Qatar Stock Exchange main market. This milestone will provide a great opportunity for us to bolster the Company’s already strong capital by increasing its shareholder base, which will support its ambitious growth and development targets. MEEZA’s transformation to a publicly listed company provides an opportunity for the investors to take part in the Company’s journey and achievements, as it looks to continue its strong financial performance and revenue growth.”

MEEZA, a Qatar Foundation joint venture, is an established end-to-end Managed IT services and solutions provider based in Qatar with the mission of becoming the leading provider in the Middle East and North Africa. MEEZA is helping accelerate the growth of Qatar and the region through the provision of world-class Managed IT Services and Solutions.

MEEZA shares to be listed on Qatar Stock Exchange on Wednesday, 23rd of August 2023

Following the successful completion of its IPO on 19 June 2023, MEEZA is pleased to announce that the Company has received confirmation from the Qatar Stock Exchange for the first day of trading of its shares on the Main Market of the Qatar Stock Exchange.

MEEZA’s shares will commence trading on 23 August 2023 at 9:30 AM. The Company will be listed with the ticker MEZA, and the ISIN code will be QA000PK2KD10.

For further information and respective details on the Company and its listing, together with the risk factors, please read the Qatar Financial Market Authority approved offering prospectus on https://www.meeza.net/ipo/.

MEEZA is looking forward to embark on this new chapter and appreciates the continued support of all its shareholders.

 

Click here for more details

MEEZA records 42% increase in revenue and 18% increase in net profit in first half of 2023

Doha, Qatar, 30  July 2023: MEEZA QSTP LLC (Public) (“MEEZA” & “the Company”) announced its financial results for the half year ended 30 June 2023, ahead of its imminent listing on the Qatar Stock Exchange.

Financial Summary

In May 2023, MEEZA successfully concluded its Initial Public Offering (“IPO”) with an oversubscribed order book covered by Qualified and Retail Investors.  It is worth noting that MEEZA is coordinating with the relevant regulatory authorities to finalize the final technical arrangements required to set the listing date of its shares on the Qatar Stock Exchange main market.

In the first half of 2023, MEEZA’s Net Profit reached QR 29.7 million, representing a 17.8% (or QR 4.5 million) increase over the same period last year and the highest first half year profit in the Company’s history, mainly driven by EBITDA and finance income growth.  Net Profit Margin for the period was 13.4% and Earnings Per Share (EPS) was QR 0.05.

The Company’s revenue grew by 41.9% (or QR 65.5 million) to reach QR 221.8 million, led by growth in the IT Solution Services and Managed Services segments.

EBITDA for the period increased by 4.2% (or QR 2.6 million) to reach QR 64.0 million, primarily driven by revenue growth and continued cost optimization.  EBITDA margin declined from 39.3% to 28.9% due to a higher contribution of IT Solution Services revenue to the overall revenue mix.

MEEZA’s Data Centre Occupancy reached 83% as of 30 June 2023. The Company increased its supply capacity to 24.4MW in October 2022 to meet ever-growing demand from the market.

QAR million H1 2023 H1 2022 % change
Revenue 221.8 156.3 41.9%
EBITDA 64.0 61.5 4.2%
Net Profit 29.7 25.2 17.8%
Net Cash 121.2 80.0 51.6%

 

Sheikh Hamad bin Abdullah Al Thani, Chairman of MEEZA, stated:

“MEEZA’s financial results for the first half of 2023 show a continuation of its growth trajectory as it readies for its next phase as a publicly listed company. The success of our IPO subscription is a testament to MEEZA’s position as the leading managed IT services company in Qatar.  We are proud to contribute to the technological advancement and progress of our nation in alignment with Qatar National Vision 2030.”

Commenting on the period’s achievements, Eng. Ahmed Abdullah Al-Muslemani, MEEZA CEO, stated:

“MEEZA’s journey has been filled with significant milestones and notable achievements, especially in recent years with the boom in demand for our portfolio services. We have successfully launched MEEZA Academy to train college students to meet the demands of the local ICT sector, and also expanded Managed Services Portfolio with Oracle Exadata Cloud@Customer to deliver cloud database services. Our results so far are on track to continue in the same trajectory, thanks to our prudent and continued investment in our data center infrastructure.  We look forward to creating more value for our new shareholder base.”

Click Here to download H1 2023 Financial Statement

 

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About MEEZA

MEEZA is an established end-to-end Managed IT Services and Solutions provider founded in Qatar Science & Technology Park (QSTP), that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions, while providing the Qatari people and others throughout the region with opportunities to undertake fulfilling careers in the IT industry.

MEEZA is a publicly quoted company on the Main Market of Qatar Stock Exchange, open to customers and investors with share capital of 648,980,000 QAR.

The company has five Tier III certified data centers, known as M-VAULTs, offering a guaranteed uptime of 99.98% built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks.

MEEZA’s offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence (AI).

 

MEEZA and QInvest announce successful completion of the IPO share allotment and refunds

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.

 

Click here to download the press release

MEEZA and QInvest announce successful completion of the IPO with an oversubscribed orderbook

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 19th, 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 26th 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