Vodafone Qatar shares offered at QAR10 each

Having announced the plan to offer 40 per cent of Vodafone Qatar’s stock on the Doha Securities Market earlier this week, tonight the operator offered details of what form the initial public offering is set to take.

The details of Vodafone Qatar’s IPO include:

• Subscription for the offering will open on April 12 and close on April 26, 2009.

• The IPO will consist of 338,160,000 ordinary shares, representing 40 per cent of Vodafone Qatar’s authorised share capital.

• The share price has been set at QAR10 (US$2.75) per offer share, with additional offering costs of QAR0.25 per offer share.

• Only Qatari nationals and registered Qatari institutions, which are 100 per cent Qatari owned can apply for offer shares in the offering.

• Individual investors will be able to apply for a minimum subscription of 250 offer shares with multiples of 50 offer shares thereafter.

• Institutional Investors will be able to apply for a minimum subscription of 25,000 offer shares with multiples of 500 offer shares thereafter.

• Allocation will be based on individual investors orders being allocated up to the first 2,500 offer shares of their order; thereafter institutional investors will be allocated up to the first 2,500 offer shares of their order; and after that all orders will be filled on a pro rata basis.

• International investors will be able to buy Vodafone Qatar shares on the open market once it is listed on the Doha Securities Market after the IPO.