28 تشرين الثاني 2010
Ooredoo Palestine Mobile Telecommunications Public Shareholding Company (’Ooredoo’ or the ’Company’), the second Palestinian mobile phone operator, as part of its listing process announced that once listed on the Palestine Exchange (’PEX’) its ticker will be ’Wataniya’.
The Company announced its Initial Public Offering of shares (’IPO’) was open for subscription on Sunday 7 November 2010. With just five days of the subscription period left, interested international investors are invited to contact HSBC Bank Middle East Limited, the Sole Global Coordinator and Sole Bookrunner, and Arab Bank Group, the Regional Coordinator. Retail investors in Palestine are also invited to subscribe now at branches of HSBC, Arab Bank, Bank of Palestine, Palestine Commercial Bank, Palestine Islamic Bank, Qatar National Bank and Quds Bank in the West Bank or Gaza.
The key details of the offering are as follows:
• The Offer will run for five more days up to, and including, 2 December 2010
• The Offer will comprise 38.7m new shares, representing 15 per cent of the Company’s authorised share capital
• At the fixed offer price of US$1.30 per share, the Company should raise gross proceeds of approximately US$50.3m
• Proceeds raised in the Offer will be used for general business and operational purposes, and to assist the funding of the balance of fees payable under the Company’s operating licence
• Based on the Offer Price, the market capitalisation of the company following completion of the Offer is expected to be approximately US$335.4m
• Immediately after the close of the subscription period, the Company will apply to the PEX for the listing of its shares, which it hopes will take place within 30 days of the application
Dr. Mohammad Mustafa, Chairman of Ooredoo, commented: ’The announcement of the Ooredoo ticker is another step closer to our listing on the PEX. This IPO offers investors an exciting chance to share in the future of a high growth Palestinian company, and with just five days left until the subscription period closes, we remind people to subscribe now before it is too late.’
Dr. Bassam Hannoun, Chief Executive Officer of Ooredoo said: ’We have spent the past three weeks meeting regional and international institutional investors, communicating the compelling investment story of Ooredoo. While we are not in a position to disclose specific levels of subscription until the close of the offer, we have seen strong levels of interest from both international and local retail investors and are confident that the IPO will be a great success.’
How to subscribe:
For retail investors in Palestine wishing to subscribe in the Company’s shares, they will need to review the prospectus, which can be downloaded from www.ooredoo.ps/ipo or collected from branches of HSBC, Arab Bank, Bank of Palestine, Palestine Commercial Bank, Palestine Islamic Bank, Qatar National Bank and Quds Bank in the West Bank or Gaza.
A subscription form, which is also available from branches of any of the above banks, should be completed in full, and payment submitted by way of manager’s cheque/demand draft, bank remittance or direct debit from a personal bank account.
Retail investors are also required to provide either a copy of their valid passport or a copy of their valid Palestinian ID card. Corporate investors are required to provide a copy of the entity’s certificate of registration and a document evidencing the authority of the representative signing the subscription form on behalf of the entity. A copy of the representative’s valid passport or valid Palestinian ID card is also required.