Home / Vodafone Qatar $929m IPO fully subscribed

Vodafone Qatar $929m IPO fully subscribed

Huge interest makes Vodafone Qatar second-largest IPO ever in country.

Vodafone's Qatari unit said on Thursday its QAR3.38bn ($928.6m) initial public offering had been fully subscribed, making it the second-largest IPO ever in the Gulf Arab oil and gas exporter.

Investors offered QAR3.35bn, after expenses, for shares in the offering, said Ray Maurer, managing director of QNB Capital, one of the lead managers of the IPO.

"Given the challenging times we are facing in the global financial markets, we consider it an enormous success to sell this issue," Maurer told Reuters. The company said in a statement the IPO was fully subscribed.

Vodafone Qatar sold 338.1 million shares for 10 riyals each, representing a 40 percent stake, in an offering from Apr 12 to Apr 26. (Reuters)

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018