Gulf International Services (GIS) has announced plans to list its catering subsidiary, Amwaj Catering Services Company, on the Qatar Stock Exchange (QSE), marking a significant development in the group’s growth strategy.
In a formal statement to the QSE, GIS confirmed that shareholders of Amwaj have agreed to move forward with the process of converting the company into a Qatari public shareholding entity. This move is subject to regulatory approvals and a comprehensive review process.
GIS, a key player in Qatar’s oil and gas services sector, currently holds a 30% stake in Amwaj. The catering firm is known for providing high-quality food and facility management services, primarily to the energy sector and large-scale institutions.
“The shareholder approval marks an important step forward in the company’s journey and its future plans,” GIS said in its announcement. “Further details will be disclosed in accordance with applicable regulations and rules.”
The listing of Amwaj would bring one of Qatar’s prominent catering and hospitality service providers into the public market, offering investors an opportunity to participate in a sector that supports the country’s vital oil, gas, and industrial infrastructure.
The move aligns with Qatar’s broader economic diversification efforts, which include expanding the scope and depth of its capital markets and encouraging private companies to go public. Analysts believe that listing a well-established services firm like Amwaj could attract increased investor interest in the non-energy sectors of the Qatari economy.
No timeline has yet been specified for the initial public offering, but the process is expected to proceed following the completion of all required regulatory and financial assessments.
GIS, which also operates across drilling, aviation, and insurance services in the oil and gas industry, has been reviewing its portfolio to unlock value through strategic partnerships and market listings.
The QSE has seen growing momentum in new listings in recent years as part of Qatar’s push to develop a more dynamic financial market. The anticipated listing of Amwaj is expected to further enhance investor confidence and provide a boost to the services sector on the exchange.
