Vodafone Qatar is launching its mega initial public offering (IPO) for Qatari retail and institutional investors today. Subscription to the issue will remain open until 1pm on April 26.
The offer price is QR10 per share and an additional 25 dirhams will be levied as service charges. Subscription forms and prospectus are available with 12 banks in the country.
Qatar National Bank (QNB) and HSBC are joint lead managers to the issue and joint financial advisors and joint lead receiving banks.
Aside from the above banks, the IPO forms and prospectus can also be collected from Ahli Bank, Arab Bank, Commercial Bank of Qatar, Doha Bank, IBQ, Qatar Islamic Bank, International Islamic, Al Rayan Bank, Mashreq Bank and Alkhaliji.
Foreign retail and institutional investors can buy Vodafone Qatar shares only from the secondary market, that is, after the stocks are listed on the Doha Securities Market, the local bourse.
As for Qatari institutional investors, only registered institutions and companies that are 100 percent Qatari-owned are eligible to subscribe to the primary offer.
The IPO will see 40 percent of the company’s authorised share capital offered to investors. The offer consists of 338.16 million ordinary shares.
Full subscription amount needs to be paid with service charges directly from an applicant’s account with any of the 12 banks. No cheques will be accepted.
The minimum retail subscription limit has been fixed at 250 shares and in multiples of 50 shares thereafter, while for institutional investors the minimum subscription slab is 25,000 shares and in multiples of 500 thereafter.
Doha Bank has announced it will provide loans to help Qatari applicants subscribe to the IPO, while QNB said it was offering the electronic subscription route to Qatari nationals applying for the IPO.
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