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Qatari telecommunications company Ooredoo Q.P.S.C., in which the Abu Dhabi Investment Authority (ADIA) recently divested half of its 10% stake, said the secondary global offering of those shares has been completed.
The fully marketed offering, involving more than 160 million shares, was executed through an accelerated, fully marketed bookbuild and has now settled on the Qatar Stock Exchange, the company said.
As a result of the deal, Ooredoo’s free float on the QSE has increased from approximately 22% to 27%. Following the transaction, ADIA will retain a 4.99% stake in Ooredoo, which is dual-listed on the Abu Dhabi Securities Exchange.
(Writing by Brinda Darasha; editing by Seban Scaria)
