Qatar Telecom (Qtel) has been named as the “Best Company for Investor Relations in Qatar” in the First Middle East Investor Relations Society Awards at a major ceremony in Dubai.
The company was also presented with “Best Company Representative Award” for the investor relations team at Qtel.
The Middle East Investor Relations Society (ME IR Society) is an independent not-for-profit organisation dedicated to promoting excellence for investor relations standards across the region.
In a year of challenging economic conditions, Qtel has successfully tapped the international finance markets with two pioneering initiatives. Qtel obtained investment grade ratings in the midst of the credit crisis towards the end of 2008, which provided the company with a firm platform to launch both a $1.5bn dual tranche bond and a $2bn revolving credit facility.
“Throughout this process, Qtel has maintained its position as the leading company for corporate governance in Qatar, based on the evaluation by the Hawkamah Institute of Corporate Governance.
Qtel is one of the few companies in the GCC that posts not only quarterly analyst presentations, but also audio for investor conference calls, helping to support full transparency across the investment community,” a spokesman said.
Dr Nasser Marafih, chief executive officer, Qtel, said: “We are grateful for these awards and the recognition of our efforts in an area of paramount importance to Qtel. The company takes its relationship with the investor and financial community very seriously and in the past year has worked very hard to enhance that relationship.”
The company’s $1.5bn five-and 10-year bonds were oversubscribed more than eight times earlier in the year, reflecting the resounding success of the first-ever telecom bond issue in the Gulf region.
The “Best Company for Investor Relations in Qatar” award was collected on Qtel’s behalf by Adel al-Mutawa, executive director, Group Communications, Qtel.
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