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Plus, Jumeirah Group reduces working days, Vodafone Qatar claims biggest IPO in 2009, Middle East intra-regional trade increases 28 percent, Saudi hopes to see 88 million visitors by 2020
May 4, 2009 12:00 by Aarti Nagraj
Vodafone Qatar announced that its initial public offering (IPO) was the largest one in the world so far in 2009, reports Trade Arabia. The IPO took place from April 12 to 26 and managed to raise $1billion. “The result is amazing,” said Grahame Maher, CEO Vodafone Qatar. “In any other country in the world this would not be possible.”
The IPO was completely subscribed, with Qatari nationals accounting for 65 percent of the shares, and institutional investors subscribing for the remaining 35 percent.