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Posted On: 14 April 2009 10:49 am
Updated On: 12 November 2020 02:09 pm

Vodafone shares to trade on DSM by June

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Applications for subscription to some 2.7 million shares of Vodafone Qatar were made until yesterday, the second day after the company launched its mega primary issue here. The subscription is open only to Qatari retail and institutional investors. “As of yesterday, banks have reported that many people picked up subscription forms and prospectus and expressed their interest (in the issue). We had some registrations and people putting in deposits,” Grahame Maher, chief executive officer (CEO) of Vodafone Qatar, said. The application money deposited for subscription to the 2.7 million shares adds up to QR27m, he added. Maher said international investors will be able to buy Vodafone Qatar shares on the open market once it is listed on the DSM after the IPO, “maybe around the early part of June.” “Non-Qataris can buy shares once the trading is in the DSM (Doha Securities Market), probably around the early part of June. Non-Qataris can just buy them like any other shares in the market. The IPO is a privatisation of a Qatari asset,” said Maher. Vodafone Qatar’s primary offer, which closes at 1pm on April 26, is for 338.1 million shares, representing 40 percent of the company’s authorised share capital. The offer price is QR10 with additional nominal service charges of 25 dirhams per share. Vodafone has also announced that Qatari nationals and organisations who subscribe to the IPO will have the opportunity to choose their Vodafone phone numbers.