- Maldives in important market to the business
- Investing was a priority over making a profit
- Ooredoo has made an investment of 250 million dollars
Qatars international telecommunication company Ooredoo Group's Maldivian branch, Ooredoo Maldives, has announced that they have registered the company in the Maldivian stock market and are making preparations to sell shares soon.
At the colorful exchange held last night at Dharubaaruge, the chairman of the Maldivian Stock Exchange, Allam Ali presented the certificate of registration to the Ooredoo Group. The chairman of the Ooredoo Group, Sheikh Abdullah Bin Mohammed Bin Saud Al Thani accepted the certificate on behalf of the group.
Speaking at the ceremony, the Sheikh said that looking back on the past 6 years proves that Ooredoo Maldives is the most progressive company. "Looking back on the past 6 years, the fastest growing company of ours is Ooredoo Maldives. As a result of the talented leadership team and the hard work of the employees, and with help from the ooredoo group, this company has brought world class speed and service to the Maldivians" Said the Sheikh. He also said that Ooredoo being listed in the stock market is a great opportunity for people to invest in the company.
"The IPO of Ooredoo Maldives would be for investors from both the Maldives and abroad to take part in the company's success, and to reap profits from the future success of the group" The Sheikh Abdullah Bin Mohammed Bin Saud Al Thani also said. The CEO of Ooredoo Vikram Singh said that they invested 250 million dollars to give cutting edge service to the Maldives using the latest technologies. And he also estimated that the market value of the company would be somewhere around 2.5 billion dollars. "We did not look to make a profit. We looked to invest. We have moved forward 40% in the last two years." Vikram said
Listing Ooredoo is a big accomplishment
Speaking at the ceremony, the chairman of the Maldives Stock Exchange Allam Ali said that listing Ooredoo as the first multinational company in the Maldivian stock market is a huge accomplishment. "This is the 9th year of the Maldives Stock Exchange. And this is the 10th company to be listed" Allam said. He also said that the market had started at 2.6 million, but that now it has risen to be at 7.8 million.
