Vodafone Qatar IPO To Attract Interest Despite Poor Market Conditions

Vodafone Qatar will hold its initial public offering (IPO) on April 12, attempting to raise GBP655mn (US$916mn) by selling 228.1mn shares at 10 riyals each. CFW expects the offering to attract investors as it is the first in the pipeline of new issues on the Doha Securities Market, which is encouraging despite lower domestic liquidity than we've been used to. Furthermore, what makes this particularly interesting is that Vodafone is the first operator to enter the market as state-owned Qatar Telecom (Qtel) has held the monopoly.

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