Vodafone Qatar to list shares in July

Following its fully subscribed initial public offering (IPO) last month which raised USD930 million, Vodafone Qatar has announced that it will list its shares on the Doha Stock market in July. It also released further details of the IPO subscriptions, with 82,000 Qatari individuals subscribing to 65% of the issue and 273 Qatari institutional investors applying for the other 35% of shares on offer. International investors will be able to buy the shares on the open market once listed. Following the IPO, Qatar’s second cellular network operator has the following ownership structure: Vodafone Group (22.95%), Qatar Foundation (22.05%), public shareholders (individual and institutional) in Qatar (40%) and other Qatari institutions (15%, distributed amongst Foundation for Education, Science & Community Development [5%], Military Pension Fund [3.3%], Military Staff Loan Funds [3.4%] and Health & Education Endowment [3.3%]).