Telecom giant announces plan for Bahrain delisting
Qtel says decision follows review of firm's commitments following expansion.
Qatar Telecom (Qtel) has announced that it will delist the company from the Bahrain Stock Exchange (BSE) later in Feb.
The decision was taken by the company board after a review of the firm’s recent expansion of its operational footprint into 17 countries and the resulting commitments and requirements.
A statement from Qtel said the company had taken the decision "because of consistently low volume trading of its shares on the BSE and the incremental administrative requirements inherent in the Group’s multiple share listings necessitated by its expansion in multiple international territories".
Qtel added that it did not anticipate that the delisting would adversely affect the liquidity of the stock, its shareholders or other investors.
The delisting will come into effect with the closure of transactions at BSE on Thursday Feb 26. Qtel first listed on the BSE in 2001.