Doha – Mubasher: Ooredoo on Tuesday said it has submitted a request to the UK Listing Authority to cancel the listing and admission to trading of its global depository receipts (GDRs) from the London Stock Exchange (LSE).
The delisting should be in effect from the opening of the LSE on 31 August 2017, the Qatari telecommunications company said in a statement to the Qatar Stock Exchange (QSE).
“The decision is primarily due to the ease with which international investors are now able to purchase Ooredoo securities on QSE,” the company stated.
Our shares will remain listed on QSE and the Abu Dhabi Securities Exchange (ADX), the telecom operator added.
Ooredoo’s GDRs were admitted to trading on the LSE on 19 July 1999.
The Qatari telecom last logged QAR 584.11 million ($159 million) in net profits for the first quarter of 2017, registering a 33.5% decline from QAR 878.64 million ($239.17 million) in Q1-16.
