The Maldives Stock Exchange (MSE) has approved plans for fixed and mobile operator Ooredoo Maldives to list a portion of its shares via an initial public offering (IPO). In a statement published on the MSE’s website, the Qatari-owned company said it plans to publish an IPO prospectus in Q2 2017, with the public offer expected to be launched later in that same quarter. The IPO will be open to the Maldivian public, and local and international investors.
‘This exciting announcement demonstrates the extent of our achievements in the Maldives. We look forward to further development and growth, and welcoming new investors to contribute to and share in our success,’ local news source Miadhu quotes Ooredoo Maldives CEO Vikram Sinha as saying, adding: ‘The upcoming IPO gives the opportunity for investors to be an active part of our progress, as we move beyond profitability and towards bringing transformational opportunities to people across our communities.’