Vodafone Qatar Q.S.C. Announces Initial Public Offering
Doha, 15 March 2009: Vodafone Qatar Q.S.C. ("Vodafone Qatar" or the "Company"), part of the Vodafone Group, the world's largest mobile network, today announced the Initial Public Offering ("IPO") of 40% of the Company's authorised share capital and subsequent listing on the Doha Securities Market ("DSM") in Qatar. The Company was awarded the second public mobile telecommunications networks and service license in the State of Qatar in June 2008.
The Vodafone Qatar IPO subscription period will open on Sunday 12 April 2009 and will close on Sunday 26 April 2009 subject to final regulatory approvals. A full prospectus will be available from the 12 selected receiving banks from 12 April onwards, providing full details of the IPO and the company. A list of receiving banks and branches will be issued in advance of the opening date.
Vodafone Group already has a huge footprint, with a presence in over 65 countries worldwide, and has started to create the same kind of buzz in Qatar. Vodafone Qatar turned on its mobile network on March 1 2009, and its first 1,000 customers have been asked to help test and build their mobile network. Vodafone Qatar will make announcements on its products and services to be made available to the public in due course.
At a special open night to be held on Tuesday 17 March 2009 at 6:00pm, potential investors will have the chance to learn further details about Vodafone Qatar's IPO and plans to make a world of difference for the people in Qatar.
The open night will be hosted by Vodafone Qatar Chairman H.E Sheikh Abdulrahman Bin Saoud Al Thani, Vodafone Qatar CEO and Board Member Grahame Maher, and Qatar Foundation Vice President Administration and Vodafone Qatar Board Member Rashid Al Naimi.
Commenting on the IPO, Vodafone Qatar Chairman H.E. Sheikh Abdulrahman Bin Saoud Al Thani said, "This is a significant IPO as it will become one of the largest IPOs in Qatar. Furthermore it marks the next step in the deregulation of the telecommunications sector in Qatar, by bringing competition to the market."
"Qatar Foundation's strategy of partnering with high technology businesses that will help develop the growth of the knowledge based economy is fostering many opportunities for Qataris and we expect there to be much interest in this upcoming IPO" said Qatar Foundation Vice President Administration and Vodafone Qatar Board Member Rashid Al Naimi.
Vodafone Qatar CEO Grahame Maher said, "The IPO represents another significant milestone in Vodafone's quest to make a ‘world of difference' for the people in Qatar. We're looking forward to becoming a significant player in the communications market in Qatar."
HSBC Bank Middle East Limited and Qatar National Bank S.A.Q are acting as Joint Financial Advisers, Joint Lead Managers and Joint Lead Receiving Banks.
Further information about the IPO can be found at: www.vodafone.com.qa