Vodafone Qatar IPO is World's Biggest So Far This Year

Vodafone Qatar has confirmed that its Initial Public Offering (IPO) that took place from 12 to 26 April was a phenomenal success. Raising US$1 billion, Vodafone Qatar's IPO was at the time of the close of the subscription period, the largest IPO in the world in 2009. For comparison, globally there have been 11 IPOs of more than US$50 million per offering in 2009 that collectively raised US$2.1 billion in total.

"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 and for their support and trust"

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

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

There were many offers from Qatari institutions for above the Maximum Institution Subscription Caps amount that Vodafone Qatar was unable to accept due to the structure outlined in the IPO prospectus. This indicates there could be strong early demand once Vodafone Qatar is listed on the Doha Securities Market - which is expected to happen before the end of July.

Posted to the site on 6th May 2009