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.