Ooredoo signs new $177m financing deal

15/01/2016 07:51 AST

Omani Qatari Telecommunications Company 'Ooredoo' has signed three new financing agreements with local and international banks worth $177 million (RO68 million).

The new funding will be used for general corporate purposes and will underpin continued investment in the company’s network and ongoing enhancement of services for the company’s growing business and consumer customers, said a statement.

The company’s ability to secure the new financing facilities is reflective of the company’s strong balance sheet, positive brand equity and excellent market performance, it said.

The company has spent in excess of RO124 million solely in network modernisation over the last three years and this has resulted in population coverage growing to approximately 99 per cent.

Jorgen Latte, chief financial officer at Ooredoo, said: “There has been huge interest from both local and foreign banks in our new facility.

"With our clear vision and strategy, Ooredoo attracts many banks who want to participate and support our strategic ambitions."


Trade Arabia

News

Ooredoo posts RO23mn net profit for 9 months

26/10/2017

Ooredoo Oman reported a net profit of RO23.1mn for the nine months period ended September 30, 2017. This was 38.6 per cent lower compared with a net profit of RO37.6mn reported for the same period of

Muscat Daily

Ooredoo, OMPC to provide business telecom solutions suiten

15/01/2016

Ooredoo has signed a deal with Oman Munitions Production Company (OMPC) to provide the high-profile government-owned company with a full suite of advanced business telecommunication solutions.

Trade Arabia

Ooredoo Oman reported 16.2% rise in net profit

21/07/2015

Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 16.2 per cent rise in second-quarter net profit on Tuesday.

The firm, majority-owned by Qatar's Ooredoo, made a net profit o

Trade Arabia

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
TAHSSILAT 25.00 4,010

Valuation

ORDS.MSM Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
NLIF 0.32 0.00 (0.00%)
OTEL 0.88 0.00 (0.00%)
SSPW 0.24 0.00 (0.00%)
PHPC 0.14 0.00 (0.71%)
SOMS 1.68 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap