VODAFONE is hopeful of making a statement on its proposed initial public offering next month.
“I hope to have an answer for you next month,” Vodafone Qatar chief executive officer Grahame Maher said yesterday.
Vodafone is awaiting Qatar Financial Markets Authority (QFMA) approval for its proposed initial public offering (IPO) on the DSM.
Based on a requirement in the licence awarded by the country’s telecom regulator – ictQATAR, Vodafone should have made the IPO before November 30, 2008.
“We have not yet got approval from the QFMA for the IPO due to the market conditions,” Maher said.
Originally, Vodafone Qatar proposed that the IPO take place in October, 2008.
However, due to the market conditions at the time, QFMA did not approve the proposed dates and requested that Vodafone Qatar propose a revised timetable.
Currently, a new proposed timetable is being considered by the QFMA in the light of the recent market developments.