Vodafone Qatar Q.S.C. Announces Subscription Limits for Initial Public Offering
Doha, 30 March, 2009: Vodafone Qatar Q.S.C ("Vodafone Qatar" or the "Company") today, following regulatory approval, made a further announcement on the Individual Investor and Institutional Investor maximum subscription limits of its Initial Public Offering ("IPO").
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 1,690,800 Offer Shares.
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 by an Institutional Investor is 1,690,800 Offer Shares.
Other previously communicated details on Vodafone Qatar's IPO include:
- The IPO will see 40% of the Company's authorised share capital offered to investors
- Subscription for the IPO 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 and companies, that are 100% Qatari owned ("Institutional Investors") can apply for Offer Shares in the IPO.
- Allocation will be based on Individual Investors orders being allocated up to the first 2,500 Offer Shares of their order; with Institutional Investors being allocated up to the first 2,500 Offer Shares of their order thereafter. Following that process 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.
- 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.
Vodafone Qatar CEO Grahame Maher commented: "The IPO is the perfect opportunity for Qatari investors to play a major part in bringing change and developing the telecommunications infrastructure in Qatar. In turn our shareholders will help us make a world of difference for the people in Qatar."
Further information about the IPO can be found at: www.vodafone.com.qa