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Thu 16 Jul 2009 11:13 AM

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Vodafone Qatar to join Qatar Exchange

The company will list its remaining shares on the exchange on July 22, just weeks after launching service.

Vodafone Qatar is set to join the Qatar Exchange on July 22 only weeks after launching mobile phone services in the country.

The company announced on Wednesday that it would list its remaining shares on the exchange having completed an initial public offering (IPO) in April.

Vodafone Qatar issued 40 percent of its shares to secure some $950m, which at the time was the world’s biggest subscription for 2009.

This latest issue means all Vodafone Qatar shares are available to outside investment with no limits on foreign ownership.

However, the founders’ shares, which represent 60 percent of the company, will be blocked from trading for two years.

“This is another important milestone for Vodafone Qatar.  Our investors will play a vital role in helpings us ‘make a world of difference for the people in Qatar’ and we look forward to enjoying a long and prosperous relationship with them,” said Grahame Maher, CEO, Vodafone Qatar.  

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