Ooredoo Maldives announced commencement of its secondary market trading with the Maldives Stock Exchange, which would allow the public to further invest in the company.
Ooredoo Maldives announced its decision to become a public trading company in 2016, and had made stock available to the public in May. The telecommunications provider said that it had risen over MVR 421 million having sold over 14 million shares to a total of 8,257 investors during its initial public offering.
CEO of Ooredoo Maldives, Najib Khan extended warm welcome to the new shareholders, as well as investors who are interested in trading. He stated that investors who were unable to buy shares through the IPO now have the opportunity to invest in the company, through secondary market trading.
The Maldives Stock Exchange had also commended Ooredoo for the success of its initial public offering, describing it as a milestone achievement for the capital market of Maldives. The Maldives Stock Exchange expressed hope that the entry of Ooredoo to the market will have a positive impact on the trading environment in the Maldives.
A written notification confirming the allotted number of shares and the MSD account number has been sent to each Ooredoo Maldives shareholder via post, and should be received within a week.