03/05/2009 00:00 AST

Vodafone Qatar announced today that its Initial Public Offering was the largest IPO in the world in 2009 at the time of the close of the subscription period.

The IPO, which took place from April 12 to 26, was a phenomenal success and raised $1 billion, it said.

Globally there have been 11 IPOs of more than $50 million per offering in 2009 that raised $2.1 billion in total. Vodafone’s IPO in Qatar raised around $1 billion or almost half of all of the other IPO’s put together, said the telecom company.

"The result is amazing,” said Grahame Maher, CEO Vodafone Qatar. “In any other country in the world this would not be possible. Qatar has demonstrated again that it is the leading global economy with this very strong and successful result.

Vodafone is very fortunate to be here and I want to reinforce my sincere gratitude to Her Highness Sheikha Mozah Bint Nasser Al Missned of Qatar Foundation, ictQATAR and the Government of Qatar for their support and trust,” he said.

About 82,000 Qatari national individuals subscribed for 65 per cent of the shares and 35 per cent of the shares were taken up by 273 institutional investors, resulting in a 100 per cent subscribed IPO.

A significant number of the Qatari national population are now shareholders in Vodafone Qatar and Vodafone Qatar is now 77 per cent Qatari owned.

Allocation of shares will be finalised on or before May 10, 2009. Shareholders will be advised of their subscriptions by SMS and mail.

Vodafone Qatar is the holder of the second public mobile telecommunications networks and services license in Qatar granted on 29 June 2008. The company turned on its mobile network on March 1, 2009 and its first 1,000 customers are helping to test and build its mobile network.

During May, the first shareholders will receive a PIN number that will allow them to go online to Vodafone’s website and choose their numbers.

The entire range of Vodafone numbers that start with “7” including “Star Numbers” will be available.

Randomly generated numbers will be free of charge. First shareholders who want to select their own number will be charged a reservation fee starting from QR500. All number reservation fees will be at a fixed fee and a valid credit card is required.” said Michael Portz, chief marketing officer, Vodafone Qatar.


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