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| Sector | Industry |
Telecommunications |
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| Oman (24) |
| Oman |
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Contact Details
Address:
Nawras Building
Sultan Qaboos Street Athaiba Area P.O. Box 874 Muscat 111 Oman Tel: +968 2200-2200 Fax: +968 2200-2299 Email:
customerservice@nawras.om
Website:
www.nawras.om IPO Details
Listing Date:
01Nov10
Size of Offering:
$474.643M
Equity Offering:
40%
Lead
Managers:
BankMuscat, Morgan Stanley and Company International, Qatar National Bank
M&A Details
Acquistion
Status
In-Process
Acquirer
Target
Announcement Date
02 Feb 2010
Closing Date
02 Feb 2010
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Business Overview
The Omani Qatari Telecommunications Company (Nawras) manages and operates GSM mobile and fixed telecommunications networks, and provides Internet services, in Oman.
Established by Qatar TelecomQatar Telecom  and Omani partners, Nawras broke Oman Mobile’s telecom monopoly, in March 2005, when it launched its GSM services. The company underwent an IPO on the Muscat Stock Exchange, in October 2010, offering 40% of its shares for public subscription to raise OMR182 million (USD470.7 million); it listed its shares in November 2010. Nawras increased subscribers by 23% to 1.8 million, annually, in 2009. The company grew its annual revenues by 23%, to OMR171.6 million (USD444 million) and increased annual net profits by 112%, to OMR41.5 million (USD107.4 million).
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