Vodafone Qatar Q.S.C. to list on the Qatar Exchange on 22 July
Vodafone Qatar Q.S.C. (“Vodafone Qatar” or the “Company”), announced today that the Company will be listed on the Qatar Exchange on Wednesday 22 July, 2009.
Qatar Exchange is the successor to the Doha Securities Market, in which NYSE Euronext recently acquired a 20% stake. The acquisition by NYSE Euronext will transform Qatar Exchange into an international exchange with a diverse product range.
Vodafone Qatar’s Initial Public Offering (“IPO”) of 40% of the Company’s authorised share capital took place from 12 to 26 April, 2009. The IPO was a phenomenal success raising 3,381,600,000 Qatari Riyals (Approximately USD$950 million) which was the largest IPO globally in 2009 at the time subscriptions closed.
Once listed, 100% of the Company’s authorised share capital is open to foreign investment, with no limits on foreign ownership. The founders’ shares, representing 60% of the authorised share capital, are blocked from trading for 2 years.
On the first day of listing shares can be traded in any price range. Thereafter, shares can be traded at plus or minus 10% as per Qatar Exchange trading rules.
“This is another important milestone for Vodafone Qatar. Our investors will play a vital role in helpings us ‘make a world of difference for the people in Qatar’ and we look forward to enjoying a long and prosperous relationship with them,” said Grahame Maher, CEO, Vodafone Qatar.
Vodafone Qatar has come a long way over the past 13 months. The Company received its license on June 28, 2008 and shortly after started to build a world-class network in Qatar. The first test calls were made in December 2008 and the network was officially switched on the 1st of March 2009. Shortly after Vodafone Qatar welcomed their first customers - such as the “1st 1000” whose feedback helped build their network. Vodafone Qatar’s mega IPO took place in April, and in May and June 2009, thousands of Shareholders joined Vodafone Qatar to use their services during an exclusive “1st Shareholders” promotion.