Business

Ooredoo Maldives to allocate over 14 mln shares after IPO

Ooredoo Maldives says it will be allocating over 14 million shares to 8,219 applicants following its IPO, equivalent to MVR 421.35 million and constituting 9.5 percent of its issued, paid-up shares. They will be listed on the Official List of the Maldives Stock Exchange on the third market day (no later than 10 August) after it announces the lodgment of shares to each shareholder’s MSD account.

Ooredoo Maldives is working with the Maldives Securities Depository (MSD) and the Maldives Stock Exchange (MSE) to expedite all of these processes. The dates stated in the prospectus have been subject to change due to new public holidays being declared since then. The operator has asked the MSD to process the allotment list and generate a deposit request within fourteen market days and not later than 13 July. Ooredoo will approve the deposits and submit the approved deposit list to the MSD within five market days, not later than 20 July.

Full details are available from the link below:

Source URL: Google News

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