Ooredoo, Qatar’s majority state-owned telecoms operator, is looking to list on the London Stock Exchange or another major bourse in a bid to bring more liquidity to its shares, the company's CEO said on Monday.
"We have been looking at [a further listing] for some time because one of the issues is the liquidity of the shares - it's not only us, its most of the companies in the region," said Nasser Marafih at Dubai’s GSMA telecoms conference, according to Reuters.
The telecoms firm, which has operations in 15 markets in the Middle East, Africa and Asia, is already listed on the Qatar Exchange.
Matthew Reed, a UAE-based analyst at Informa Telecoms and Media, said a listing on another exchange will not have a “huge significance” for Ooredeoo, but said that the move would give the company better access to a wider pool of investors.
“They are becoming quite a big international player, and they have further ambitions to grow,” Reed told Al Arabiya, noting that such a listing could fit in with their business goals.
Speaking at the conference, Marafih called for more cooperation between governments and operators.
“We believe today that there is there isn’t enough [cooperation] there between government and operators,” he said. “There are, increasingly, operators under pressure by mobile regulators by which they are imposing more license fees,” added Marafih.
Reed noted that mobile technologies were often considered a big potential growth sector in developing countries, sometimes leading to heavy taxes on telecom services which can be problematic for operators.
source: english.alarabiya.net
"We have been looking at [a further listing] for some time because one of the issues is the liquidity of the shares - it's not only us, its most of the companies in the region," said Nasser Marafih at Dubai’s GSMA telecoms conference, according to Reuters.
The telecoms firm, which has operations in 15 markets in the Middle East, Africa and Asia, is already listed on the Qatar Exchange.
Matthew Reed, a UAE-based analyst at Informa Telecoms and Media, said a listing on another exchange will not have a “huge significance” for Ooredeoo, but said that the move would give the company better access to a wider pool of investors.
“They are becoming quite a big international player, and they have further ambitions to grow,” Reed told Al Arabiya, noting that such a listing could fit in with their business goals.
Speaking at the conference, Marafih called for more cooperation between governments and operators.
“We believe today that there is there isn’t enough [cooperation] there between government and operators,” he said. “There are, increasingly, operators under pressure by mobile regulators by which they are imposing more license fees,” added Marafih.
Reed noted that mobile technologies were often considered a big potential growth sector in developing countries, sometimes leading to heavy taxes on telecom services which can be problematic for operators.
source: english.alarabiya.net
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