Ooredoo mulls new London listing

3 Oct 2013

Qatari telecoms group Ooredoo (formerly Qatar Telecom [Qtel]) is considering a secondary stock market listing in London with the aim of diversifying its investor base and improving the liquidity of its shares, according to a report by Dow Jones Newswires. Citing bankers familiar with the matter, the article said that Ooredoo has sent out a request for proposals to banks to study the merits of such a move.

According to TeleGeography’s GlobalComms Database, majority state-owned Ooredoo has around 21% of its shares in free float, listed primarily on the Doha Securities Market (since 1998). It is also listed on the Abu Dhabi Securities Market (2002) and has a global depositary receipt (GDR) listing on the London bourse (1999), while in February 2009 it delisted from the Bahrain Stock Exchange (listed 2001) due to low trading volumes.

Qatar, Ooredoo Group, Ooredoo Qatar