{"id":192118,"date":"2021-04-14T19:41:04","date_gmt":"2021-04-14T19:41:04","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=192118"},"modified":"2021-04-14T19:41:06","modified_gmt":"2021-04-14T19:41:06","slug":"qatar-stock-exchange","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/","title":{"rendered":"Qatar Stock Exchange starts to include SMEs via direct listing"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Qatar Stock Exchange (QSE) started to allow small and medium-sized enterprises (<a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwib0raJvf7vAhUPgf0HHbW7BLwQmhMwKnoECCcQAg&amp;url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FSmall_and_medium-sized_enterprises&amp;usg=AOvVaw2SL36rJd-WPTi4MJqnES_U\">SME<\/a>) to be listed, after it listing <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwivi5aJvv7vAhXohP0HHajeDPAQFjABegQIAhAD&amp;url=https%3A%2F%2Fwww.alfaleh.edu.qa%2Fen%2Fhome%2Fal-faleh-educational-holding&amp;usg=AOvVaw0emkyiByJNiSvSWRSDhhJo\">Al Faleh Educational Holding Company<\/a>, by direct listing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Al Faleh Educational Holding is the first company from emerging markets to be included in the Qatar Stock Exchange, and the work will be according to lighter and flexible regulations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company was listed through the direct listing mechanism, and not through the initial public offering of shares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Qatar Stock Exchange<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In turn, the CEO of the Qatar Stock Exchange, Rashid Al-Mansoori, said, \u201cThe bourse is making a determined effort to increase the number of listed companies by increasing awareness of the advantages of listing them in the financial markets.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe are all extremely proud to open the market and welcome Al Faleh to the extended QSE \u2018family\u2019 and look forward to them being an outstanding addition to our markets.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr. Sheikha Aisha bint Faleh Al Thani commented: \u201cWe are proud to be the first company to make use of this alternative route to market demonstrating our belief in the market and the place it will have in our future.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe fully expect to evaluate a \u2018promotion\u2019 to the Main Market when the time is right for our shareholders and the company,\u201d she said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Al Faleh was established in 2000 as Doha Academy to provide high quality educational services from kindergarten stages through to higher education.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Emerging markets<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to a previous statement issued by the QSE, launching the startup market represents a complementary vision to the main market that was established in 1997 and includes Qatari public shareholding companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for the startup market, it is dedicated to small and medium-sized companies, which can be defined as companies with a minimum performance record and a higher level of risk. However, they fall under the category of growing companies that need to obtain the capital required for the listing process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also, according to the statement, listing in the emerging market is appropriate for small individual companies that have limited performance records and fewer resources when met by stronger investor relations and corporate governance practices required of the main market companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, for companies to join the emerging market, their issued capital must not be less than two million riyals, and that the number of their shareholders should not be less than 20 when applying for listing, who own no less than 10% of its capital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more: <a href=\"https:\/\/www.bnreport.com\/qatar-national-bank\/\">Qatar National Bank Achieves Profits Of QR3.3 Billion In First Quarter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Qatar Stock Exchange (QSE) started to allow small and medium-sized enterprises (SME) to be listed, after it listing Al Faleh Educational Holding Company, by direct listing. Al Faleh Educational Holding is the first company from emerging markets to be included in the Qatar Stock Exchange, and the work will be according to lighter and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":192119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,684,395],"class_list":["post-192118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-qatar","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport\" \/>\n<meta property=\"og:description\" content=\"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-14T19:41:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-14T19:41:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1446\" \/>\n\t<meta property=\"og:image:height\" content=\"946\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"BNR staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BNR staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/\"},\"author\":{\"name\":\"BNR staff\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/58f65d9c9a5003dcc6e2d5774c54062e\"},\"headline\":\"Qatar Stock Exchange starts to include SMEs via direct listing\",\"datePublished\":\"2021-04-14T19:41:04+00:00\",\"dateModified\":\"2021-04-14T19:41:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/\"},\"wordCount\":423,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Qatar-Stock-Exchange.jpg\",\"keywords\":[\"Featured\",\"Qatar\",\"Stocks\"],\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/\",\"name\":\"Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Qatar-Stock-Exchange.jpg\",\"datePublished\":\"2021-04-14T19:41:04+00:00\",\"dateModified\":\"2021-04-14T19:41:06+00:00\",\"description\":\"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Qatar-Stock-Exchange.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Qatar-Stock-Exchange.jpg\",\"width\":1446,\"height\":946,\"caption\":\"Qatar Stock Exchange\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/qatar-stock-exchange\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Qatar Stock Exchange starts to include SMEs via direct listing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics &amp; Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/58f65d9c9a5003dcc6e2d5774c54062e\",\"name\":\"BNR staff\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/mnsa\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport","description":"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/","og_locale":"en_US","og_type":"article","og_title":"Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport","og_description":"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company","og_url":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2021-04-14T19:41:04+00:00","article_modified_time":"2021-04-14T19:41:06+00:00","og_image":[{"width":1446,"height":946,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg","type":"image\/jpeg"}],"author":"BNR staff","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"BNR staff","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/"},"author":{"name":"BNR staff","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/58f65d9c9a5003dcc6e2d5774c54062e"},"headline":"Qatar Stock Exchange starts to include SMEs via direct listing","datePublished":"2021-04-14T19:41:04+00:00","dateModified":"2021-04-14T19:41:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/"},"wordCount":423,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg","keywords":["Featured","Qatar","Stocks"],"articleSection":["Business"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/","url":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/","name":"Qatar Stock Exchange starts to include SMEs via direct listing | Bnreport","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg","datePublished":"2021-04-14T19:41:04+00:00","dateModified":"2021-04-14T19:41:06+00:00","description":"Bnreport - The Qatar Stock Exchange started to allow small and medium-sized enterprises to be listed, after listing Al Faleh Company","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/04\/Qatar-Stock-Exchange.jpg","width":1446,"height":946,"caption":"Qatar Stock Exchange"},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/qatar-stock-exchange\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"Qatar Stock Exchange starts to include SMEs via direct listing"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics &amp; Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/58f65d9c9a5003dcc6e2d5774c54062e","name":"BNR staff","url":"https:\/\/www.bnreport.com\/en\/author\/mnsa\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/192118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=192118"}],"version-history":[{"count":1,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/192118\/revisions"}],"predecessor-version":[{"id":192121,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/192118\/revisions\/192121"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/192119"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=192118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=192118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=192118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}