Vodafone Qatar was listed on Qatar Exchange (QE), the Qatari bourse, with much fanfare yesterday, taking the number of publicly-traded firms on the equity market to 43.
Recently, following the merger of Qatar Technical Inspection Company with Qatar Fuel, the number of listed entities on the Qatari exchange had come down to 42.
After listing, Vodafone stocks oscillated between highs and lows. The lowest price level reached was QR10.60, a little above its face value, while the highest was QR13. The stocks eventually closed at QR11, although the usual 10 percent cap on price fluctuation did not apply to Vodafone stocks, it being their listing day.
The last traded price of Vodafone was QR10.80 whereas the average closing price was QR 11.40.
The total number of transactions concluded on the equity market was 10,592 with a total of 29.4 million shares traded for a collective value of QR335m.
“We are pleased to welcome Vodafone Qatar, the first major international company since the formation of Qatar Exchange, to our market. We look forward to a successful listing and a long lasting partnership with the company,” said André Went, CEO of QE.
Vodafone Qatar was established on June 26, 2008. The company’s share capital comprises 845,400,000 subscribed Ordinary Shares each of nominal value of QR10. Some 338.2 million of the company’s shares were offered to the public (40 percent of these were offered to individual investors and institutions). The remaining 60 percent of the shares are owned by the Vodafone group, Qatar Foundation and other Qatari institutions.
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