Ooredoo Maldives IPO raises USD26.5m

19 Jun 2017

Ooredoo Maldives yesterday (18 June 2017) announced the results of its initial public offering (IPO) which it launched in April. A total of 14,044,870 shares will be issued to 8,219 applicants, raising MVR421.35 million (USD26.50 million) and constituting 9.5% of the issued paid-up shares of Ooredoo Maldives. The fixed and mobile operator, majority owned by Qatari firm Ooredoo Group, had offered up to 22.17 million issued Ordinary Shares (representing a 15% stake) to Maldivian and international institutional investors, as well as retail investors, at a price of MVR30.0 per share; 63.4% of the shares on offer were taken up.

The shares are scheduled to be listed on the Maldives Stock Exchange (MSE) on or before 10 August 2017.

Maldives, Ooredoo Maldives