Doha: Ooredoo Q.P.S.C. announced the successful settlement and closing of the fully marketed secondary global offering of 160,480,320 existing ordinary shares previously held by Abu Dhabi Investment Authority (ADIA). The transaction was executed via an accelerated, fully marketed bookbuild and has now settled on the Qatar Stock Exchange (QSE), Ooredoo said in a press release published on Qatar Stock Exchange website.

According to Qatar News Agency, the offering increases Ooredoo's free float on the Qatar Stock Exchange from approximately 22% to 27%, further broadening the Group's international shareholder base and enhancing trading liquidity. CEO of Ooredoo Aziz Aluthman Fakhroo stated that the successful completion and settlement of this offering brings a wider set of long-term investors onto their register and enhances liquidity in their shares.

Fakhroo added that with an expanded free float, they expect improved market access and index representation, supporting value creation for all shareholders. First of its kind in Qatar, the success of the deal also confirms the growing attractiveness of Qatar Stock Exchange to international investors as an investment destination.