moosawaheed

Ooredoo Maldives IPO Opens for Subscription

Ooredoo Maldives IPO Opens for Subscription


Estimated time to read the article : 2 min, 4 secs

Ooredoo Maldives Plc., today announced that its initial public offering (IPO) is now open for subscription.

The IPO of 40% of Ooredoo Maldives total share capital is open to retail and international investors, both local and international.

Investors have been invited to initially subscribe to 22,170,060 issued Ordinary Shares, which represent 15% of the issuedOrdinary Shares, via an Offer for Sale at the Offer Price of MVR 30.00 per share. If the number of shares subscribed for exceeds 15% of the issued Ordinary Shares, Ooredoo Maldives will meet any additional demand up to the offered 59,120,160 issued Ordinary Shares which represent 40% of the issued Ordinary Shares of the Company.

Online subscriptions to Ooredoo Maldives IPO can be made through the Ooredoo Maldives website (https://ooredoo.mv/investors) website, as well as Maldives Securities Depository website (https://infinity.depository.mv)

Investors will also be able to subscribe for shares at all Ooredoo Experience Centres across the Maldives, as well as Ooredoo’s Business Partner Shops, Post Offices, all branches ofState Bank of India, all branches of Maldives Islamic Bank, and license dealing companies.

A complete list of collection points has been made available on the Prospectus. A copy of the Prospectus, application forms and other IPO related documents can be obtained online on the Ooredoo Maldives website.

The Offer* will close on 28th May*, 2017.

*This date is subject to change if the first day of Ramadan falls on a weekday in Maldives.