The Edition


Ooredoo titled Best Investor Relation Company in Maldives

Ahmed Aiham
14 January 2019, MVT 10:07
Ooredoo Maldives opens Initial Public Offering (IPO). PHOTO: OOREDOO MALDIVES
Ahmed Aiham
14 January 2019, MVT 10:07

Telecom giant Ooredoo Maldives has been awarded Best Investor Relations Company in Maldives, by the 2018 Global Banking and Finance Awards.

Ooredoo was listed on the Maldives Stock Exchange in August 2017, through the largest and most successful Initial Public Offering (IPO) in Maldives, raising MVR 421,357,800 which constitutes 14,045,260 shares or 9.5 percent of the issued paid-up shares of the company, attracting 8,257 investors.

This resulted in Ooredoo being one of the largest listed companies in Maldives, and the entity with the largest free float-adjusted market capitalisation on the MSE.

“We’re grateful to receive this honour...The award stands testimony to our Investor Relations team’s innovative efforts in ensuring first-rate communication between the company, our investors and the financial community at large. We are truly thankful for the continued support from our investors and will continue our efforts to ensure exemplary engagement with them and all our stakeholders”, said Ooredoo Maldives' CEO Najib Khan.

Ooredoo’s efforts to reach out to the entire nation during the IPO included one-on-one meetings with key high net worth individuals and institutional investors, town hall meetings addressing professionals, students and other potential retail investors and Ooredoo shops and business partners, selected bank branches and licensed dealing companies amongst other activities.

Board Director of Ooredoo Maldives, Dheena Hussain, stated, "Our team’s exceptional efforts reaped successful results by attracting one of the largest ever shareholder bases for a listed Maldivian entity exceeding 8,000 new shareholders..."

In addition to their recognition for Investor Relations, Ooredoo Maldives closed 2018 with additional wins at the Maldives Business Awards, including the award for Foreign Direct Investment of the Year and Excellence in Information and Communication.