Qatar Telecom expects double subsidiary IPOs in Oman and Palestine

31 October 2010

The QE Index declined 0.12% to finish at 7,795.95. Qatar Telecom, also known as Qtel closed unchanged QR178.40. Qtel announced today that it’s group member Wataniya Palestine Mobile Telecommunications Public Shareholding Company (“Wataniya Mobile”), the second licensed mobile telecommunications company in Palestine, its intention to undertake an Initial Public Offering (IPO) of 15 per cent of its authorised share capital followed by a listing on the Palestine Exchange on November 7. Qtel’s subsidiary Nawras has announced that following the successful completion of its IPO, its shares will begin trading on the Muscat Securities Market (MSM) under the ticker ‘nwrs’ on 1st of November 2010.

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