Vodafone Qatar Q.S.C. Shares Full Details of its Initial Public Offering
Doha, 17 March, 2009: Vodafone Qatar Q.S.C ("Vodafone Qatar" or the "Company"), part of the Vodafone Group, today announced the full details of its Initial Public Offering ("IPO"). The IPO will see 40% of the Company's authorised share capital offered to investors between 12 April and 26 April 2009, prior to its listing on the Doha Securities Market ("DSM") in Qatar.
Vodafone is the world's leading international mobile telecommunications company, with equity interests in 27 countries and Partner Markets in more than 40 countries. As of 31 December 2008, Vodafone had approximately 289 million proportionate customers worldwide.
Vodafone Qatar turned on its mobile network on 1 March 2009, and its first 1,000 customers have been asked to help test and build its mobile network. Vodafone Qatar will make announcements on the wide range of products and services to be made available to the public in due course.
The details of Vodafone Qatar's IPO include:
- Subscription for the Offering will open on 12 April 2009 and close on 26 April 2009.
- The IPO will consist of 338,160,000 ordinary shares ("the Offer Shares"), representing 40 per cent of Vodafone Qatar's authorised share capital.
- The share price has been set at QAR10 per Offer Share, with additional offering costs of QAR0.25 per Offer Share.
- Only Qatari nationals ("Individual Investors") and registered Qatari institutions, that are 100% Qatari owned ("Institutional Investors") can apply for Offer Shares in the Offering.
- Individual Investors will be able to apply for a minimum subscription of 250 Offer Shares with multiples of 50 Offer Shares thereafter. The maximum subscription of Offer Shares by an Individual Investor is in line with the Articles of Association of the Company.
- Institutional Investors will be able to apply for a minimum subscription of 25,000 Offer Shares with multiples of 500 Offer Shares thereafter. The maximum subscription of Offer Shares by an Individual Investor is in line with the Articles of Association of the Company.
- Allocation will be based on Individual Investors orders being allocated up to the first 2,500 Offer Shares of their order; thereafter Institutional Investors will be allocated up to the first 2,500 Offer Shares of their order; and after that all orders will be filled on a pro rata basis.
- International investors will be able to buy Vodafone Qatar shares on the open market once it is listed on the Doha Securities Market after the IPO.
At a special open night which was held on Tuesday 17 March 2009 at 6:00pm, potential investors learned the full details about Vodafone Qatar's IPO and plans to make a world of difference for the people in Qatar.
An enthusiastic crowd welcomed Vodafone Qatar CEO Grahame Maher as he delivered his Vodafone Qatar business overview. "We have a strong strategic focus on making the world of difference for the people in Qatar, and the IPO is just one part of that strategy. We hope that Qataris will be part of our success, as customers, employees and now as shareholders," Maher told the audience.
The open night was 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.
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